In Queensland's increasingly unaffordable housing market, it's now common for parents to step in and help their children buy their first home. But while the impulse to assist is natural, the way that assistance is structured can have long-lasting consequences — both financial and personal.
At McCarthy Durie Lawyers, we regularly help families navigate the complexities of providing this support. As a multi-disciplinary firm with deep expertise in property law, family law, and succession planning, we can help ensure that your generosity achieves its intended purpose — without creating unintended risks.
The risks to consider
Parents often have similar concerns when thinking about helping their children buy property, including:
- Pension eligibility – ensuring your assistance doesn't affect your entitlement.
- Family breakdown – protecting the funds if your child later divorces.
- Bankruptcy risks – safeguarding your contribution if your child's financial circumstances change.
- Impact on other beneficiaries – balancing fairness in your broader estate planning.
- Family harmony – reducing the potential for disputes down the track.
How we can help
All of these concerns can be addressed with the right legal structures — whether that's through a loan agreement, gift with conditions, co-ownership arrangement, trust structure, or another tailored solution. We also ensure your Wills and estate planning documents are updated to reflect your arrangements, and can advise on family law protections to safeguard the funds.
Because we work across all these disciplines, you get coordinated, efficient, and holistic advice — all under one roof.
Get advice before you commit
The earlier you involve us, the more options you have to protect yourself and your family. Investing in quality legal advice now can save significant stress, cost, and conflict in the future.
Contact Stephen Gibson, Queensland Law Society Accredited Specialist in Property Law, to get started.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
