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Reply to "Giving your married child a down payment, then divorce "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It's a gift. What they do with it once it's given is none of your business. If you aren't comfortable letting it be a gift, don't give it. Don't attach strings to gifts. [/quote] It's a gift to one party (their child) but not to the couple.[/quote] Once their child commingles the gift money with marital joint funds, it becomes joint property. Here's a potential option. Why don't you give your child the money that they can keep in a separate individual savings account. Let's say this amount is $500k. The couple can borrow against that money - let's say $400k - and can apply that money to a downpayment. Your child can use the remaining $100k to make the interest payments on the loan. In the event of divorce, the loan would need to paid back into the individual savings account which is owned by your child. Not sure if that would work but just an idea.[/quote]
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