QUESTION
Who owns the business or does two trustees have legal right to control the business.
Asked on Oct 04th, 2019 on Wills and Probate - California
More details to this question:
A sole proprietor of a business passed away. Two employees named as trustee in a trust. One trustee as executor and the rest of employees as beneficiaries. Trustees are acting like owners of the business and a whole lot of secrecy and suspicion. Atmosphere is not healthy.
1 ANSWER
2 Awards
If the trust instrument says that the trustees are to operate the business, they are. If the employees are beneficiaries of the trust, they are entitled to certain information based on state law.
Answered on Oct 05th, 2019 at 5:04 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.