Legal Question in Business Law in Wisconsin
how to get rid of a partner in a limited liability company
i work for a limited liability company. my boss is
currently in divorce procedures with his wife, and wants
to take her name off the llc papers. he did buy her out.
how can we do this? i'm his assistant. thanks!
Asked on 9/06/02, 8:40 pm
1 Answer from Attorneys
Thomas Schober
Schober Schober & Mitchell, S.C.
Re: how to get rid of a partner in a limited liability company
There are two ways your boss's ex-wife's name could
be removed from the LLC: 1. The LLC could redeem
her interest, and 2. Your Boss could buy her out.
There is different paperwork and tax treatment for
each method. The transfer of the LLC interest
would require and "Assignment" to be drafted, which
she would have to sign.
Answered on 9/09/02, 9:09 am
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