More details to this question:
I have an old profit sharing paper 100 percent invested and can get no answers from the company which is still in business. My question is can I claim this money?
1 ANSWER
Business & Commercial Law Attorney serving Tampa, FL
Partner at
AEGIS LAW, Formerly the Walk Law Firm
2 Awards
There is no simple answer to your question. In order to assess whether or not you still have profit-sharing interest, and attorney would need to review the profit sharing paper that you have along with any plan documents. In addition, if the company has been through any extraordinary event, such as a bankruptcy, profit-sharing rights could have been cut off. Often profit sharing is cut off when you leave employment. I recommend you find a corporate lawyer who has employment law experience. Most experienced lawyers in this area will be company side. Even so, a company side attorney is probably the attorney who will be able to give you the best analysis, but probably won't be an attorney who would sue your former employer. If you pay for analysis from the corporate side attorney, that person may be able to direct you to a plaintiff's employment lawyer for suit if necessary.
Answered on Jan 10th, 2017 at 5:16 AM
The answer provided is based upon limited information and, as a result, may not be correct or complete. It is not legal advice on which you can rely.