Beware the perils of informal family arrangements

Beware the perils of informal family arrangements

Disagreements arising from family deals seem to be on the rise. Discussions about what happens after someone passes away or arrangements about loaning money or transferring assets often happen informally within families. While these arrangements are usually made with good intentions, they involve significant risk and can lead to disagreements if things go wrong. Basic requirements for the formation of a contract in Scotland are: (a) the parties …