Legal Question in Wills and Trusts in Illinois
my dad pased away a few weeks ago he wasmarid for 25 years. am his only child and I have been managing his business for the last year . My stepmother wants to sell , am I entitled to half of the bsines sale?
3 Answers from Attorneys
you are entitled to 1/2 of the estate. depends on how the business was set up
You don't say whether you and your step-mother are in agreement on the sale of the business. If so, Mr. Michelotti is correct if the business was owned 100% by your father.
However, if there are other business interest owners, or if you don't want to sell the business, there are other issues to consider.
I would be worth your while to schedule an appointment with a probate attorney to discuss your rights and obligations.
Good luck to you.
Probably. However, to be sure, you should consult with an attorney to explore your interests. That attorney will ask the following questions (among others): Did your father have a Will? If so, what did he leave for you? Are there business documents which impact the distribution of the business? Are there other assets that you or your stepmother would rather have?