SOA - Advice needed please

January2015

Do his kids know his financial situation? Would they be able/willing to help either payment monthly mortgage installments or perhaps even clear the mortgage outright. In this way they are securing their inheritance.

FBaby

You say he is stressed about the whole situation so surely the priority is for him to enjoy his life stress-free. It is hard enough to adjust to live without a partner. On this basis, if there is equity in the house, his priority should be to downsize. He probably sees it as an added stress to do so and to leave behind the memories, but he has to come to realisation that it will be much easier to adapt to another place knowing that he can afford it than continuing as he is.

This way he is still leaving a property to his children whilst being able to enjoy his life. He is still young and could have many more years to make the best of.

AndyLGR

January2015 wrote: »

Do his kids know his financial situation? Would they be able/willing to help either payment monthly mortgage installments or perhaps even clear the mortgage outright. In this way they are securing their inheritance.

Absolutely, I'm married to one of them.

Yes clearing the mortgage / taking it on is something that needs to be considered too. But we are trying to get things shored up for the time being with the lender so we can move forward.

FBaby wrote: »

You say he is stressed about the whole situation so surely the priority is for him to enjoy his life stress-free. It is hard enough to adjust to live without a partner. On this basis, if there is equity in the house, his priority should be to downsize. He probably sees it as an added stress to do so and to leave behind the memories, but he has to come to realisation that it will be much easier to adapt to another place knowing that he can afford it than continuing as he is.

This way he is still leaving a property to his children whilst being able to enjoy his life. He is still young and could have many more years to make the best of.

I totally agree and you're right. Its such a sensitive subject right now, but I'm sure in time its something we can discuss and I think he realises it himself too. But now isn't the time though.