California | Civil Litigation
Legal Question
General Partnership Dissolution
My father in law and his brother opened a business over 20 years ago together. The brother died early on without a will. My father in law being a generous man decided to give his brothers shares to the surviving spouse as the partnership actually did not have any provisions for this. Over the years this has been problematic as she does not work for the company but decides when to come around and wants to make decision or take out capital.
In the past 4 years she has wanted to buyout my father in law but does not have the capital. She will not sell her percentage as she think she will get cheated and will not have any more income after the sell.
After several years of bickering, my father in law would like this to be over while still being able to keep the business. Is there any way for him to legally remove her from the partnership or control so that he can either pay her off? He is willing to get a third party evaluation or even split the company in half. He just wants it to be over so he run his business in peace.
Share This On:
