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Family Agreements
Living with your adult child, co-purchasing property, building a granny flat, or loaning money. Learn more about creating a family agreement.
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What is a family agreement?
A family agreement is an arrangement between an older person and someone else regarding care and living arrangements.
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What should a family agreement include?
A family agreement should include everyone’s contributions, what they expect in return, and what should happen if the agreement ends.
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Steps to take to arrange a family agreement
There are many steps to arranging formal family arrangements. This outline will help you understand where to start.
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Centrelink and the age pension
Older people can receive the age pension through Centrelink/Services Australia, with the amount received dependent on their income and assets.
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Contributory Parent visas and migration to Australia
While many people enter into family agreements to ensure they receive some extra support as they age, often a driving motivation is to provide support for their family.
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Family Agreements tip sheet
If you are considering entering into a formal Family Agreement here are a few tips to consider.
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Family Agreements checklist
This helpful checklist is a great place to start. It includes summary information about making Family Agreements as well as what to do when things go wrong and where to seek help.
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Giving gifts to family
What should you think about before giving financial gifts to family members? Find out how to avoid any regrets.
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Going guarantor on a home loan
Is guaranteeing a family member’s home loan a good idea?
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Intergenerational households
Many intergenerational households come about as a cultural norm or a way of providing care for ageing parents or grandchildren.
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Lending money to family
How can you look after your needs when lending money to family members?
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The rules, risks and benefits of granny flats
Thinking about building or moving into a granny flat? Learn why they’re on the rise, what can go wrong without legal protection, and how to safeguard your independence and rights.
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Navigating property settlements with adult children
What happens to the financial assistance you gave if your adult child’s relationship breaks down and a property settlement arises? Here’s what to do.
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When adult children have outstayed their welcome (and you want them out)
Sometimes, having an adult child living in your home is far from ideal – for you.
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When things go wrong
Unfortunately, family agreements don't always work out. This can leave an older person in a difficult position, find out what to do when things go wrong.
Family Agreement videos
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Family Agreements Real Stories
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Elif's story about a family living arrangement gone wrong
Elif sold her home and contributed most of the proceeds to her son to build an extension for her to live in as she aged. Ten years later she is living in an unfamiliar aged care facility.
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Yen's story about a family agreement gone wrong
After selling his home and loaning his son money to pay off his mortgage, Yen expected that he would grow old in the unit his son built him in the yard.
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