Legal Question in Wills and Trusts in Wisconsin
My business partner's husband just passed away. We live in Wisconsin and he died without a last will and testament. Her husband had two daughters from a previous marriage. Since he died without a will, are his daughters entitled to 1/2 (or any other portion) of my business partner's half of our business?
1 Answer from Attorneys
The answer to your question depends on a number of factors, including the form of ownership, the titling of the ownership interest and operational documents related to your partner's ownership stake in the business. As Wisconsin is a community property state, it's possible that your partner's husband's heirs (such as the two daughters from a different marriage) are entitled to a portion of the business' ownership under Wisconsin's law of intestacy, especially if the ownership interest was titled in both your partner and her spouse's name. As your partner's spouse did not have a will, there also is a very good chance that your partner's spouse's estate will be subject to a probate proceeding in court, where the deceased spouse's daughters would have an opportunity to assert their rights to a portion of the ownership of business.
Questions such as this regarding succession of business interest through probate can be very complicated, so my strong reccomendation is to retain an experienced estate planning and probate attorney that can walk you through your best options in this situation. Please feel free to contact me directly for a more thorough discussion about all of this, as this is not a forum for specific legal advice and this is only a general recommendation.