Marietta, OH asked in Business Law for Ohio

Q: My business partner passed away and we have no partner agreement. We are an S Corp how do I move forward?

Not sure what needs done to continue on with the business as myself as sole owner. My partner is my sister.

Related Topics:
1 Lawyer Answer
Joseph Jaap
Joseph Jaap
Answered
  • Cincinnati, OH
  • Licensed in Ohio

A: The executor or administrator of the estate of your deceased partner will have to list the partnership interest as an asset of the decedent's estate and distribute it according to the decedent's will, or if no will, then as provided by Ohio law for those without a will. Use the Find a Lawyer tab to retain a local attorney to review all the circumstances and advise you.

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.