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Family Businesses in Dispute

It is a time of year to celebrate, and take the time to consider, a particular relationship within our families.

As part of the Mother’s Day celebrations this weekend there will be countless multi-generational family gatherings where stories that you have probably heard before but are happy to listen to again will be passed around.

No doubt there will be arguments over what TV shows are to be watched and what music is to be listened to. I am sure the generations will no doubt suggest that every other generation’s entertainment is nothing compared to what they watch and listen to (‘It wasn’t like that in my day!’ / ‘There is no tune!’ / ‘That is so old fashioned!’ and so on). These inter-generational arguments will hopefully be restricted to raised eyebrows and can be resolved without fuss, but what if the argument is worse?Mother is the name for god quote

What happens if you work together too? Are there (hopefully different) difficulties there? Let us take an example: what if you have a family business where there are two generations involved? Much like the arguments over music, there may be an inter-generational dispute over how the business is to operate. On top of this, the older generation may be looking towards retirement (or selling the business) while the younger one may be looking to the time when they take over the business and bring the next generation through.

Resolving such issues is difficult but, like making sure that you have possession of the remote controls, there are steps to be taken to minimise and avoid such issues.

If you are in a family business and a dispute has arisen, or you haven’t planned how to avoid one, Young & Partners will be happy to help. Give us a call on 01383 721621.

Alan Stalker: ads@businesslaw.co.uk

Steven Wicks: saw@businesslaw.co.uk

Angus McGuire: alm@businesslaw.co.uk

Kelly Craig: kac@businesslaw.co.uk

 

 

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