Jacksonville, FL asked in Business Law and Probate for Florida

Q: Death of a partner and partnership interest.

A partner in an FL LLC/Partnership passed away. There were 2 partners. How can the spouse take over partnership interest of the partner who died? Can the spouse and existing partner change LLC members?

Related Topics:
1 Lawyer Answer
Phillip William Gunthert
Phillip William Gunthert
Answered
  • Probate Lawyer
  • Orlando, FL
  • Licensed in Florida

A: You will have to review your LLC Operating Agreement that you drafted when you formed the LLC (this should address death of owenr) or you will want to look at the Florida default statutes on how to handle matters. If nothing is clear, a probate will have to be done for the deceased partner (will most likely need to be done anyway to address the deceased owner's interest in the LLC) and in order to determine and transfer ownership to the surviving spouse, who can then address or dispose of this ownership interest. Your starting point would be the internal LLC documents as well as the probate to follow. You will want to speak with a Florida Business Attorney and the spouse needs to work with a Florida Probate Attorney.

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.