Legal Question in Business Law in Maryland
business partner
If I own majority of a company with a business partner, but my spouse is an employee of t hat company and was a crucial part of the start u p, what should happen to my % of the company when I die? Does it go to my spouse, business partner or split 50/50?
1 Answer from Attorneys
Re: business partner
If you die and have no will, then all of your assets will pass to your surviving spouse, or is she does not survivie you, then to your children, etc.
That is why many small business owners decide to enter into shareholder agreements etc. so that that they can organize such things in advance. Also, estate planning is required as well.
I hope this helps. If you have further questions and want to chat, briefly about optionsm, please feel free to give me a call.
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