[SoxyMama]

We're hoping to buy a house in the next 12 months with my BIL. So yesterday when going through some details he mentioned the big if we ever get divorced this could be how it could work etc.... he's got like the entire scenario sorted 'just incase'. He said not that he thinks there is any reason to because things are happy. But this is coming from someone who I thought didn't even believe in the 'D' word. Perhaps it was BIL who bought it up, coz he's going parts in with it he wants to know what would happen if that did happen. Which is fair enough.

Do you have divorce contingency plans?

Do you think it is normal?

[*LucyE*]

No, I don't think it's normal.

Maybe sensible to have contingency plans though. Same as if one of you were in a serious accident/whatever.

What sort of contingency plans was he thinking about?

[Pooks*potters]

Yes it is absolutely normal, especially with big financial moves like that.

After experiencing an end to a previous de facto relationship and the suddenly death of my father, I always have a plan of what I would do should either happen with my DP. Having a child makes this even more important, IMHO.

[JECJEC]

So you are investing with your BIL. Then it is a business transaction and he needs to protect himself and his asset from the potential fall out of a divorce. Very very sensible thing to do.

[Bart.]

I don't know if it's 'normal' or not but it certainly should be something everyone considers. Given the frailty and uncertainty that is life, all contingencies need to be discussed as possibilities. I have thought many times what would happen if I didn't have DH for whatever reason.

[Mamabug]

Even without a third-party investor involved, Himself and I have a divorce contingency plan in relation to our debts... who gets what and who pays for what, etc

If I was BIL and investing with a couple, I would have asked this question, so perhaps that is where it has come from.

[~Nic~]

I don't know if it's 'normal' or not, but no - DH and I never talked about what would happen if we ever got divorced. We do have life insurance etc, so we do have plans if one (or both) of us died though.

To be honest, I don't really see the point in thinking about it for two reasons... one, because I don't want to think about us splitting up and I would hope it wouldn't happen, but more realistically, the second reason would be that there would be too many variables to consider. If we have have split up before we had kids, we would have needed a whole different contingency plan to what we would need now that we have three young kids, and that would be a different plan to the one that we would need in the future when the kids are older, or have moved out. Too many different factors would just make it too difficult to come up with a realistic contingency plan for all scenarios I would think.

[mez70]

I think when you are investing finances in a high value and long term thing be it business, house, or other assets it is a very wise thing to have in place..... This protects all parties if something happens 10,15 even 20 years down the track.

I would say this has been suggested to him by not only friends but financial advisors and poss even legal advisors..


It is different to me and hubby buying a house as it is only him and I and if the worst were to happen it is only us it affects, a third outside party brings in a whole different bunch of possibilities..

[mpjp]

Your BIL absolutely SHOULD think about these issues and discuss them with you. Divorce isn't rare, it happens to the best of us!! And if you aren't prepared to respect him for his courage in bringing up a difficult topic then you SHOULD NOT BE BUYING with family!!!

It's not like your DH brought it up....

This post has been edited by meplainjanebrain: 23/11/2012, 09:18 AM

[mindy05]

Isn't having a prenup agreement the same thing?