Granny Flats & Your Children
In recent years the use of so called “granny flats” has risen and a lot of discussion has taken place about the merits of providing accommodation for older or infirm relatives who aren’t able to be fully self-reliant but are unwilling to lose the independence that comes with moving into institutionalised aged care.
What is likely to be seen in the near future is a substantial rise in the use of these arrangements to assist children who could not otherwise afford to buy in the area, to get a home close to where other family members are living.
The benefits of these arrangements for all family members can be significant but, just as in the traditional granny flat arrangements, there are possible pitfalls which need to be navigated carefully before the living arrangements and any construction commences. Open discussion and agreement about these issues at the outset can minimise or eliminate the potential for problems down the track. Changes in financial circumstances, changes in a party’s health or changes in someone’s marital stability can all be factors which destabilise living arrangements like these. These issues can all be dealt with if appropriate agreement is reached and documentation is put in place to begin with.
If you or any family members are contemplating providing assistance to a family member to get a foot in the housing market please feel free to call us for advice on 9525 8688 for a no obligation discussion.
I also wanted to tell you of some exciting news about the merger with WMD Law of a firm specialising in defamation. Goldsmiths Lawyers has been established for approximately 35 years with its head office in Bligh Street Sydney and offices in Melbourne, Brisbane and Perth. The founder of the firm, Barrie Goldsmith, continues to work with us as a consultant and brings to our firm considerable additional commercial litigation experience and years of experience in defamation and business migration. The merger is exciting in expanding the range of services we can offer to our clients but also in providing us with a truly national presence. We are very pleased to welcome Barrie and the team of paralegals and lawyers who will be working with him.
For any further information feel free to call us on 9525 8688.
CEO & Accredited Specialist in Family / De Facto Law
Telephone: 9525 8688
Facsimile: 9526 2608