Trusted Legal Guidance for Intra-Family Business Disputes
The attorneys at Payton & Associates, LLC, handle many cases involving intra-family business disputes. Many clients have homes outside the United States but have interests in Florida. Whether the clients reside in Venezuela, Colombia, Brazil, France, Spain or the U.S., intra-family business disputes often lead to significant financial issues between dissenting family members.
For example, these disputes may surface in estate proceedings with the uncovered theft of the decedent’s assets; in the administration of an elderly and infirmed adult’s estate (theft of assets from parent suffering with Alzheimer’s); theft by a family member acting as trustee for another’s financial estate; concealment of assets entrusted to a family member for distribution upon death; failure to perform a contract for the purchase of an interest in a family business; forgery; self-dealing and every way in which a stranger could steal or plunder is part of the repertoire of errant family members.
Taking Preventative Measures
The attorneys at Payton & Associates, LLC, want to protect clients against the risk of wrongdoing by family members in business with each other or sharing in financial estates. We prefer to counsel clients before they are in situations that require litigation. Some methods of prevention, depending on the interest being protected, include:
- Well-drafted agreements by competent counsel
- Periodic inventories of assets and delivery of those inventories to a trusted attorney
- Frequent family meetings with an attorney to discuss the business enterprise, the responsibility of each family member and plans for the future
- Utilization of corporate trustees as opposed to family members as trustees
- Litigation should be considered only after all other reasonable alternatives fail.