loan agreement

[zyxwvu]

We are thinking of giving our 2 adult daughters money to put towards houses (wouldn't it be nice to be able to afford to buy them both nice family homes near us).
We own our house, have a works pension which we live on, state pensions which we keep for unexpected items, and are thinking of giving away half of our savings.
We intend to make this a loan for 2 reasons:
1. To safeguard ourselves in case, in the future, we need the income the sum would have given us.
2. So that, if they should be in a relationship that breaks down, it is clear that this money is not available to be shared with the departing partner.
1. is unlikely, and if we did need some cash it would only be the income not the capital.
2. well who can say. One daughter is happily married (as far as I know). The other is living at home at the moment.

I thought I would write an agreement, for them both to sign, 3 copies so that we each had one, detailing who had what, and when. My first thought is something like �
"This money is lent interest free but is repayable on demand (1 month notice).If more than 5% of the loan is needed in any year then 3 months notice would be given".

Do you think that would do what I want, and be fair?
Anything else I should think about?
Are they protected against me going gaga and behaving irrationally? I assume that since it is an unsecured loan we would have to take them to court to enforce the agreement, but we trust each other. I'd just like thimgs in writing at the outset, so that we know where we are.

[zyxwvu]

I've also put this in the money section as thats what it's about