Q: If someone is in business with his brother and one of them die does that person share goes to his wife automatic?
A:
This depends a lot on the estate plans put in place and whether or not there is a buy-sell agreement or other 'key personnel' provisions in that business.
You NEED to take all the relevant documents to a local attorney ASAP to review and give you actual legal advice. The answer COULD be 'yes it automatically goes to a surviving spouse' 'some of it may go to the surviving spouse' or 'none of it goes to the spouse' depending on how the plans were organized. If there IS NOT PLAN, then the state laws of intestacy take over and that varies from state to state.
Again, seek local legal representation -- it may be a bit late at this point if someone has died, but it is important to get real advice. If this is a 'what if' question, it is a great opportunity to do some planning to avoid problems when something does happen!
-- This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship.
I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
