Legal Question in Wills and Trusts in Georgia
My husband and his 2 brouther inher. land and money from there parents and they had it probated and put into an LLC and they have equal shares in the company. Worth millions. Husband will not talk to me about it so I am ask you , is the LLC to protect the money and Land from the wives incase something happend to the husbands. Why would they do this?
2 Answers from Attorneys
There's no way to know from what you posted. People do LLCs for many reasons. Often, without lawyers, they do it because some non-lawyer wrongfully told them to. It also might get done for tax reasons or other legitimate reasons. Owning property in an LLC doesn't protect it from a spouse as the spouse could seek a piece of the LLC. And since an inheritance wouldn't be marital property in a divorce anyway, that transaction for that reason would not make sense.
This is none of your business and you were not entitled to any of the money. Your husband and his brothers were free to do what they want with their inheritance. Since I don't know what it consisted of, I cannot tell you why or why not they put it in an LLC. There could be legitimate reasons as noted by Attorney Ashman.
An operating agreement should exist for the LLC and the agreement should specify what will happen to the share of a member if the member dies. Your husband may also have a will or trusts govering the disposition of his assets if he passed away.
A spouse cannot be totally disinherited at law and it depends on what else he owns or how the LLC was set up to know if you could somehow reach this asset. Divorce law is not the same as probate law, so if your husband died, you may be entitled to a portion of the LLC.
I think you have a bigger problem - if your husband does not want to talk to you about this, my question is why?