QUESTION
My husband died without a will. He was part owner (1/4) in a family runned business. One of the members of the family has sold the business.
Asked on Mar 07th, 2017 on Estate Litigation - Kentucky
More details to this question:
The business was sold without the consent of the surviving wife. According to the one who sold it, he was able to do this because the paperwork that was filed for my husband's estate was filed incorrectly, even though an attorney was contacted and a local court sided off on the paperwork. Is this possible? If so, what steps should the wife take, or is she just out of luck?
1 ANSWER
Maryellen Sullivan
The issue of whether the wife of a deceased owner of a business must consent to a sale depends on the Operating Agreement or bylaws of the business. I recommend requesting a copy of the business' documents to see what your rights are in terms of the sale and the sale proceeds. Do this in writing, so that you have proof of the request.
Without more information, I can't say how paperwork filed incorrectly affects this. I would suggest correcting the filing and pursuing your husband's interest in the business.
Answered on Mar 07th, 2017 at 9:04 AM