Many farming businesses are operated in partnership amongst family members or family-owned entities.
The dynamic of a farming 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 farming partnership.
We can advise on all aspects relating to farming partnerships, including:
The creation and preparation of partnership agreements
Terms of existing agreements
Providing guidance on succession issues in farming 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