Legal Question in Business Law in Ohio

Re: Majority Partner is only signature on bank account

Does the partnership agreement establish what happens in such a situation? Is there a partnership agreement or operating agreement at all? Does your brother-in-law have an estate plan that includes a Power of Attorney for Financial Matters? If he does, does it give the PoA authority to sign for the business?

Re: Majority Partner is only signature on bank account

The rules of your partnership need to address this, and if they do not, the partnership is terminated at his death... You need to write the rules down or a court will simply terminate the parnership and everything will be dissolved...automatically by law. You probably need a better form of business....a limited liability company or corporation. Feel free to contact me directly. A power of Attorney will not be effective after a person's death.