Legal Question in Business Law in Utah

My exhusband and I had a corporation in Nebraska - this is where we initially incorportated. We divorced in 2010 and I signed over my rights to the corporation at that time. I moved to Salt Lake and he move to New Jersey where he filed the corporations location. However, he never removed me as a corporate officer and left me on the bank account. He passed away three weeks ago in New Jersey. His son's (my stepsons) are threatening to sue me. I have asked for documentation of the amount and how it was determined and why and have not received an answer. I know the corporation had debt. I do not want to incur the debt and not the corporation. Do I have any legal right to the corporation? Please keep in mind my ex-husband and I remained best friends with at least weekly calls and emails. I am not vindictive and do not care if I do not get a dime. I just do not want to be the beneficiary of the debt and nothing to pay it with. I don't even know which state I would need to retain an attorney in.

Any direction you could provide would be greatly appreciated!


Asked on 2/01/13, 1:47 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

You have no liability for corporate debt if you did not participate in obtaining the debt. If you do not own any stock you have no rights to the corporation. Regardless of your step-sons' anger, you have no liability based on your comments.

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Answered on 2/01/13, 4:39 pm


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