Legal Question in Business Law in Texas

Sole Proprietor Business Succession

If I own a business, I am a sole proprietor and I die, what happens to my business? Because of Texas being a community property state, does my spouse automatically own 50% of the business and can therefore, continue the operation of it without any issues??


Asked on 4/05/04, 3:18 pm

1 Answer from Attorneys
Peter Bradie Bradie, Bradie & Bradie

Re: Sole Proprietor Business Succession

Your spouse is automatically a 50% owner in the business. If your will gives all of your property to her, and she knows the business, there shouldn't be any problem. All she'd have to do, after probating your will, is file another assumed name certificate and tax permit showing that the business is now in her name.

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Answered on 4/05/04, 3:26 pm


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