This Fact Sheet is for anyone who would like to know more about your rights and responsibilities and what can go wrong when you help someone out financially.
It is hard to see someone you care about struggling financially. Older people often get asked to help when other family members are in difficulty and it can be hard to say no. No matter how much you are able to give, it’s important to know your rights and responsibilities and what can go wrong when you help someone out financially. This Fact Sheet covers what you should think about when considering a loan or gift of money or other assets. It also covers going into debt for someone, being a guarantor on a property and providing security for a loan.