How a separation can affect your business

If you are considering separating from your partner, or if you have recently separated, you need to consider how the separation will affect your farming enterprise. You should obtain legal advice from an Accredited Family Law Specialist, as well as accounting advice from your accountant.

It is important not to obtain legal advice from your accountant and likewise, not to get accounting advice from your lawyer. They each have their own area of expertise, and whilst they can work together to achieve the best outcome for you, you should be very careful before you consider using only one professional to assist you.

We were recently involved in a farming case where the farmer obtained advice from his accountant as to how to remove his wife from the farming partnership and then proceeded to implement the advice without seeking advice from a family lawyer in regard to the potential consequences. The farmer decided to set up a new partnership with another family member and continue operating the same farm in the new partnership. He then argued his wife did not have an interest in the new partnership as it was a new farming business.

The end result was the farmer and his wife spent more money then was necessary with lawyers and accountants to resolve their financial affairs and it took far longer than was necessary.

The Law Society of Western Australia has an accreditation process to formally recognise family law practitioners who have a high level of competency in their field and these practitioners are referred to as Accredited Family Law Specialists.

West End Legal is led by an Accredited Family Law Specialist and we are able to assist you with all of your family law issues. An initial appointment of up to 2 hours is only $330 including GST.

More information please contact our Perth office.