Author: Lisa Quinn O'Flaherty (Page 1 of 9)

Time and time again the courts are left to unravel the tangled web of probate disputes and problems arising from the lack of clarity by a testator. Many of these disputes could have been avoided had a solicitor drafted the will. Solicitors are trained to elucidate the intentions of a testator, and to avoid the traps and pitfalls of loose language and the possible differing legal definitions of words.

In any merger or acquisition of shares, one of the crucial elements to consider at an early stage is how the stakeholders will conduct their business after the transaction completes. There can be a lot of focus on getting the deal done, but it is important to also prepare for smooth running post-completion.

In some transactions, the seller will be out of the picture after completion, and the employees and suppliers might be the remaining stakeholders. In this situation it is important that on top of the legal formalities, that introductions are made and sufficient information obtained in order for the buyer to step into the working relationships. Changes leave people feeling insecure about their own future. It is important to listen to concerns and to provide assurances where possible. Transparency and good communication is vital for he seller to navigate the relationships successfully.

In other transactions, the seller will remain in the business as an employee, a consultant or even as a shareholder. In this situation it is important to establish from the outset that the buyer and seller share values and vision for the company. Communication is key. Both should be open about their views and intentions, so as to avoid clashes later on.

Shareholder agreements and other governing documents should set clear guidance on how decisions will be made, about values and culture, and about the roles and responsibilities of each stakeholder. An integration plan should set the expectations of all parties and create a timeline for actions. There are ups and downs in business so the plan needs to have flexibility. Importantly, all stakeholders should be considered when making an integration plan and there should be openness about the actions.

The above is provided for information purposes and is not intended as legal advice. If you have questions about any aspect of commercial transactions we, at Fitzsimons Redmond LLP, would be happy to advise you. Please contact us on 01-676 3257.

By Lisa Quinn O’Flaherty

Partner at Fitzsimons Redmond LLP

The landscape of work has changed in the past two years. There is a greater focus on getting the job done, and less focus on how and when the job gets gets done. While this has had an overall benefit to workplace wellness, there are some issues to be conscious of for employers.

When a person dies without having made a valid will (dies intestate), the Succession Act 1965 sets out who shall inherit their estate and in what shares. These rules are not flexible, and may not be the most prudent or the most tax-efficient way to provide for a family, which is why it is preferable to make a will and leave instructions as to how your estate will be distributed.

Amid reports of a protestor driving a truck through the closed gates of the Russian Embassy in Dublin, the Embassy has released a statement alleging that the action is in violation of Article 22 of the 1961 Vienna Convention on Diplomatic Relations. I question whether this is indeed a breach of the convention, or are the alleged actions of the protester simply criminal damage.

When a person dies questions arise as to who is entitled to inherit, who may access bank accounts, and who is the correct person to look after the affairs of the deceased person. Probate is the legal process to gain authority gather in and distribute the assets of a deceased person. The language used in probate is quite technical and may be unfamiliar, so I have created a glossary of some of the terms used. I hope it is of some help.