Legal Question in Real Estate Law in Missouri

Protecting initial down payment on new home purchase

I'm getting remarried in December and buying a home with my new husband but because of his divorce he has a bankruptcy and very limited funds to bring as a down payment. I will be supplying the initial down payment from my equity. How can I protect my initial down payment if something were to happen in the relationship. My first husband died Sept '05 and my equity was created with him which is why I would want it back for my kids.


Asked on 3/01/07, 11:47 am

1 Answer from Attorneys

Joseph Burcke Joseph R. Burcke, Attorney at Law

Re: Protecting initial down payment on new home purchase

Second marriages often present economic issues created by a disparity in the soon to be spouse's economic ceorcumstances and the desire to protect one's children. Because of the economic disparity you cite, I strongly recommend that you and your spouse come to agreement regarding all of your economics and embody that agreement in a written agreement. While many couples are loathe to discuss economics for fear that it will chill the warmth of their relationship, far better to discover that one's mate is less than reasonable (if such be the case) before the marriage than after. Moreover, even if you keep assets titled in your sole name, should you predecease your soon to be spouse after marriage,he will have a statutory right to 1/2 of your total assets, regardless of what you write in a will. If you would like help in affable approaching the issue of your contribution to the home acquisition and the large issue of inheritance protection for your respective children, please contact me and I will be happy to help.

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Answered on 3/01/07, 12:08 pm


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