I would like to gift money to my daughter for a downpayment on a home. She is married and would be buying the house in both names. Is there any way I can protect that money (equity) for her in the case of a divorce? They live in Pennsylvania and would be buying the house there. I happen to reside in FL.
Answer
You need an agreement signed by her husband specifying where the down payment came from and what should happen in the event of a divorce.
John
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