Legal Question in Wills and Trusts in Michigan
Father and son were in business together. Father signed note saying he would be responsible for all debts in business. Father had dementia but was not yet diagnosed. Note was never renewed. Father went in nursing home with Alzheimers. Son ran business into ground taking 120,000 salary a year. Father died. Comerica Bank came in and took over a million to pay the debt that the son had made over the last eight years. My husband was a stock holder in the business and never notified of anything. The man had three other children counting on their inheritence. Something smells fishy if you ask me.
They had two lawyers hired to protect estate.
Doesn't that note have to be renewed??
Thank you for your opinion
1 Answer from Attorneys
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