Pictured above: Helen Gough
Bitter family feuds can break out when business comes before
blood, a Midlands lawyer has warned.
Helen Gough, a lawyer in the agricultural department at Lodders
Solicitors in Stratford-upon-Avon, says relatives or friends should
always get an agreement drawn up so there can be no recriminations
if ultimately it all goes wrong.
Miss Gough handles a number of cases involving contentious
agricultural issues.
"You should always ensure your head rules your heart," she
stressed.
All too often family members joined forces on an enterprise and
deemed formalities to be unnecessary, so they didn't bother to get
something official drawn up.
"They say they know each other so well there is no need.
"But emotion and personality raises its head … and it all
goes wrong.
"Then the lawyer, whose advice to do it the right way in the
first place was ignored, is left to pick up the pieces.
"Lawyers see this happening all the time.
"If we are talking a commercial proposition, especially where
assets are involved, get a written deal laid down, so each of you
knows your position and responsibilities.
"It makes it much easier to sort out if there is a subsequent
dispute and you decide to go your separate ways," she said.
She said that the concern was there could be substantial
unnecessary costs incurred by parties trying to sort things out
later.
"As a firm, we look to try and keep these to a minimum by
exploring ways to reach a settlement between the parties," she
said.
There was also the danger that delays in reaching agreements
could affect the ability to conclude agreements or deals connected
to assets or property affected by a dispute.
There was the risk that both parties could miss out on good
opportunities while they were preoccupied with the dispute.
She warned: "The central issue often comes down to the fact that
both sides can become entrenched in their own arguments and
'winning' becomes a matter of principle rather than sound
commercial judgement which, if they had had an agreement at the
start of their business relationship, could have been avoided."
For more information about Lodders, please visit their website
here: www.lodders.co.uk