Q: What does Michigan LLC act 450.4504 Membership interest as personal property mean if the husband dies.
Who inherits the business property? The wife or his will.
A: Membership interest in an LLC is considered a person's personal property, which upon someone's death, would go according to the terms of any will or intestacy. Unless the will says otherwise, the wife would likely receive.
Kenneth V Zichi agrees with this answer
To add on Mr Geer's answer, "wills" don't actually inherit. They direct who inherits and are important documents, particularly if you don't want your estate to be distributed according to the defaults set under the law of your state of residence.
Getting legal representation to create an appropriate estate plan is important! Don't neglect that detail.
-- 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
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