Several experts recommend against doing business with family. A few years ago, CBS News published an article about “5 Dangers of Doing Business With Family and Friends.” Many times, though, the pull of familial love and the desire to help out a child, sibling or parent may overcome concern about those dangers.
So, what happens if you receive money from your parent while you’re married and then you and your spouse divorce? It depends of the specific facts, but many times, if that money is a loan, then it is a marital debt. If your spouse is trying to put you on the hook for paying 100% of the loan debt you received from your mom or dad, don’t give up. Fight back with a skilled and knowledgeable Fort Lauderdale divorce attorney.
That type of scenario actually happened to one Florida Panhandle man in his divorce case. During the marriage, the couple received $125,000 from the husband’s mother. The couple received that money after the wife, a real estate professional, discovered a condo she deemed to be a good investment and suggested that she, her husband and her mother-in-law go in on the condo together. The husband’s mother balked at buying an ownership stake in the condo, but instead allegedly decided to loan the couple $125,000 so that they could make the purchase.
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