Legal Question in Business Law in New Hampshire

My Father left half of his business to me, and half to my mother when he died. The business was set up as a sole proprietorship at the time the will was written. Between the writing of the will, and my father's death, he changed the structure of the business to a corporation (he incorporated it) using my mother's name. The will was never changed. My mother is now denying any rights I have to the business, although we all know my father's intention was that the business be owned 50/50 by my mother and me, and go 100% to me in the event of her death. My brothers, none of whom were named in the can attest to this, as this company was built and worked my my father and me, and by me alone since his death many years ago. I have a copy of the will and his intentions were very clear. I do not however have a copy of any incorporation documents. I was told that it may have been set up 90% to my mom and 10% shares to me each year to avoid tax remifications once I assumed by 50% ownership. I am at a loss for what to do. I have invested more than 20 years in this business and due to family issues I would like to sell my half (if it can be proven that I am due it) and move on. Where do I begin? Thanks


Asked on 12/07/09, 5:21 pm

1 Answer from Attorneys

Bruce L. Dorner Dorner Law Office

These can be complex situations. However, the answers are often quite clear once the research has been completed. First, given the value of the buiness you would be well advised to hire an attorney to help you through the process. Second, as part of the probate proceedings an examination of the business records might be needed. Although the will purports to leave an interest in the business to you, it may have passed outside of probate as a result of joint tenancy on the stock certificates. Third, although the ownership of the business may appear to have passed to your Mother, there may be other legal theories given the value of your contribution to the growth and development of the business which might lead to a claim for payment in your favor. Significantly more detail will be needed before anything more than "ideas" can be suggested.

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Answered on 12/14/09, 6:41 am


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