QUESTION
Business with no succession plan
Asked on Jul 09th, 2020 on Wills and Probate - Massachusetts
More details to this question:
We have a estate that has not been probated in a timely manner, it has been 8 years since the passing. One family member has been running a business entitled to the deceased - what will happen with the business? Do we have to account for 8 years of financials? We are about to enter into probate and there are lots of unanswered questions.
1 ANSWER
2 Awards
What will happen to the business turns in part on how it is held. Please take the formation documents, operating agreement and any minutes to your probate attorney.
Answered on Jul 10th, 2020 at 5:05 AM
This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.