Loan arrangements between family members and why evidence of intention is so important
People can be unpleasantly surprised when loan arrangements between family members, particularly between parent and child, are not enforceable at law. If you are lending money to your children (and who isn’t in this property market), there are no shortcuts, and you...
’Equity Loans’, a loan with upside
More than ever, young people are relying on the ‘bank of Mum and Dad’ to get a leg-up. Whether it’s to break into the property market or utilise some initial capital to get their new business off the ground, we are seeing more and more of our clients give (and receive!) loans from their parents.
A question we get asked often by the ‘lender’ in this scenario is whether it is possible for a loan to be advanced without the lender receiving periodic interest repayments, and instead get a share of the ‘upside’ (gain) when the financed asset is sold.
Solution Brief: Powers of Attorney (VIC)
The most under-rated legal document of all time Try changing your phone company when your spouse is in a coma – or even getting a current balance on your electricity bill. If your spouse’s name is on the title to the property, and you do not have an...
Solution Brief: Appointment of Medical Treatment Decision Maker (VIC)
Who will make decisions about your health and welfare when you can’t? An Appointment of Medical Treatment Decision Maker is a legal document that enables you to appoint someone to make medical and lifestyle decisions on your behalf when you are unable to. ...