With house prices being so high, many parents have provided substantial funds to enable their adult children to purchase houses with partners. If needed, family mediation can help when it comes to the Bank of Mum and Dad.
If those relationships, unfortunately, break down then the parents often feel that their money should be returned to them. Whether they can have their funds ring-fenced, as belonging to them, can be a complex and expensive issue to litigate either in the Civil courts or as an Intervener in family cases.
Family relationships, even with their own child, can be damaged and there can be high stakes with costs orders being available. These cases often settle at mediation because there is a great incentive to settle and emotions can be taken into account.
An early referral can save a lot of expense and heartache. If you need family mediation for the Bank of Mum and Dad, then contact one of our experts.
This article is part of Private Client Issues – November 2021
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