Legal Question in Wills and Trusts in Montana
My spouse is apart of a family corporation (agriculture) and her family is wanting her out of the picture with regards to the corporation. The have recently sold a ranch and purchased another ranch. There was alot of profit. She is seeing zero of any of there transactions. I have told her, there is a price to be bought out of your inheritance / corporation shares. Is that correct? How should she proceed?
1 Answer from Attorneys
If she is a shareholder, then she has a right to inspect the books and review the tax returns. She may want to file an action for dissolution, then the court could force her to be bought out. Some corporations have a shareholder agreement that sets the price because it is difficult to value a private company. However, if the corporations owns the property then the value may be easier to determine. If the corporation did a like kind exchange, then there may be no income to the corporation. You probably need to talk to an attorney about the situation as it will depend upon the facts of the case. If you she wants, she can contact me via email at [email protected] or give me a call at 406-363-1048. I would probably need to review the documents and find out if there is a shareholders agreement. Thanks,
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