Family Loans and Granny Flats
Often family members need our help. This may be in the form of a loan or it may be for accommodation arrangements – commonly called “Granny Flat Agreements”.
Whenever any of these circumstances arise it is essential that they be properly documented so as to ensure that family members rights are not lost. They have been acknowledged and recorded. If need be, they can be legally enforced.
Failure to adequately document such agreements can also lead to future Centrelink difficulties or, in the event of the death of a family member, estate disputes. Such complications can be very costly.
The good news is however that these things can be avoided with good planning and well-prepared documentation signed by all relevant family members.
It is just good planning for your loved ones – and especially if that loved one is you!
Contact McColm Matsinger Lawyers today if you need advice or assistance in documenting a ‘Granny Flat Agreement’.