Many farming businesses are operated in partnership amongst family members or family-owned entities.
The dynamic of a partnership can change over time with partners being assumed or retiring from the firm and, unfortunately, in some instances ending in dispute.
Putting in place a robust partnership agreement, that is tailored to the business and ensuring that the agreement ties in with the succession planning of the partners, is key to ensuring the smooth operation of any partnership.
We can advise on all aspects relating to partnerships, including
- The creation and preparation of partnership agreements
- Terms of existing agreements
- Providing guidance on succession issues in partnerships and reflecting the individual wishes of Partners in terms of their Wills
- Varying the terms of a partnership agreement including the assumption, resignation or retirement of partners
- Dealing with partnership disputes
- The dissolution of partnerships.
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.
