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URL:  http://boards.fool.com/my-parents-divorced-after-25-years-dad-had-19189422.aspx

Subject:  Re: IRA and divorce ? Date:  6/14/2003  11:23 PM
Author:  catscanner Number:  65861 of 121261

My parents divorced after 25+ years. Dad had suffered an annurism (sp?) and after much rehabilitation was basically back to semi normal. My mom decided that she wanted to divorce him and live with the painter who ahd been working on thier house for a few years (i always wondered why it took so much painting}. Anyway, mom had a lawyer, dad didn't. Mom got dads government retirement pension, the house and all the furnishing, car, etc. Dad got his social security and ALL the other unsecured debts. That worked out to about $50k in debts that he was liable for with and income of $1300 a month. Well, needless to say, my sister and I convinced dad that he should give us power of attorney and we set him up in a cheap apartment, got him a meals on wheels daily delivery, regular check ups at the doc, a phone (in my name - with no long distance availability - he uses a calling card) and a computer with internet (he used to be a programmer, way back in punch card days and univac. I proceeded to declare bankruptcy (sp?) for him to get the creditors of his back, while mom lived fine off of his pension ($2500 a month) and had the home (very low mortgage payments and balance left).

Basically, he didn't think he needed a lawyer.

He did. He got screwed.

cat
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