A family member wants to borrow money - what should I do?

Mixing money and family can be a dangerous business. You need to carefully weigh up the pros and cons, warns rural solicitor Karen Walsh.

Image credit: Irish Examiner

Dear Karen, 

A family member has asked me for a loan of money to help with funding the cost of setting up his own business. He has asked me for €70,000. 

Let Us Know Your Questions

Your email address will not be published. Required fields are marked *

Book a Consultation

Related Blogs

Disclaiming an inheritance — do I have to accept it?

Difficulties often arise where a beneficiary wishes to disclaim 'in favour of' a specific person, such as a child or other relative...

How can I become an Irish citizen?

A point-based system is in place. If you don’t meet the required points, you can still apply, but you must swear an affidavit...

No will, no spouse, no children — who inherits the farm?

In intestacy, the estate is distributed in a fixed order, depending on which relatives are alive at the time of death...

I was promised the farm, but it was left to someone else

When a person has committed years of their life to caring for property in reliance on assurances given to them, it feels deeply...

Are online will-making services a good idea?

When considering whether or not someone was of unsound mind, the relevant time is that of the making of the will..

Building without planning permission – what are the risks?

Failure to comply with an enforcement notice within the specified time can result in a criminal prosecution...