Legal Question in Business Law in Georgia

Re: Business, probate

His estate would be liable for any misappropriation, and punitive damages and attorney's fees could also be obtained, if it is necessary to sue.

You will need to make a demand on the executor or administrator, which may make him personally liable if the debt is not paid. He may be willing to pay this immediately, and save you the trouble of a lawsuit.

Do consult a lawyer--there are issues of timing and choice of court to consider.

Re: Business, probate

The first place I would look would be the operating documents of the LLC, just to know the righrs and obligations of the remaining partners. Then you need to consult with an attorney to explore what actions may be taken against the estate of the deceased managing partner.

Re: Business, probate

Most likely there would be a cause of action against the estate for the misappropriation. You could include punitive damages if you can show fraud, which is sounds like would not be too hard.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.