Provision from Family business to end.

My Dad passed away 3 years ago.

He owned a business which my brother now owns 55% and my step mother 45%.  My Dad left it all to my step mum and my brother had to fight for share.  He has always worked for my Dad and beleived he had a right to this.

Myself and my other brother who never had any involvement in the business received a letter shortly after my Dad's passing to advise that provisioins had been made for us to receive money from the business every quarter depending on how the business was doing.

Myself and my brother received a letter this week from the directors of the business to say this payment will be reduced and will then cease altogether in 5 years.

I do not want to cause a family rift but feel this is somewhat unfair.

Any advice on rights I may or may not have would be gratefully received.

 

 

 

There's so much missing its

There's so much missing its impossible to know.

What did you dad's will say. That probably holds the answer.

Just because your brother worked for your dad does not mean he was entitled to a share of the business.

Whose sending these letters you keep getting?

Profile: retired barrister legal adviser with MOJ.
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