Legal Question in Wills and Trusts in Pennsylvania

Inheritence

My Dad died two years ago with a will. Stated my brother and I each own 50% of the two businesses. My brother wants the one business and not the other. But does not want me to have 100% and 50% of the two companies. Can he close the one he doesn't want? The estate has yet to be settled. We signed an agreement to avoid orphans court, he felt he owned more of the company he wants. I work at one business he works at other. But I am not giving anything up. One business is a LLC the other is a corporation. I work for the Corporation. He wants us to buy eachother out, which I don't want to sell, since I don't want to sell he wants to close the corporation down. I don't see how this can occur. The corporation has about 30 employees the LLC two, him and his wife.


Asked on 12/30/08, 12:20 pm

1 Answer from Attorneys
Lloyd Welling American Wills & Estates

Re: Inheritence

These kind of issues can arise often when you are dealing with business interests that are passing pursuant to someone's estate. Although you do not say, I am assuming that an attorney is handling the administration of your father's estate. If so, I would suggest that you and your brother should be discussing this matter with him/her. If you feel that he/she is not willing to discuss this matter with you or that he/she appears to be taking your brother's side, then you may wish to consult with and retain your own attorney.

Two years is a pretty long time for an estate to still be open. I'm not sure what kind of agreement you and your brother signed to "avoid orphans' court", but you probably should have had your own attorney review same before you signed anything.

If you would like to discuss this matter with me further, please feel free to contact me either through our firm website at www.americanwillsandestates.com or by email at [email protected]. Thanks.

Lloyd A. Welling, Esq.

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Answered on 12/30/08, 12:35 pm


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