Legal Question in Wills and Trusts in California

My father and I have a small business/ investment together, we are equal partners. He has passed away and there is no will. Can my brother and sisters come after my fathers share of the business? Or am I now full owner of the business?

Asked on 8/22/13, 11:44 am

2 Answers from Attorneys

John Palley Meissner, Joseph & Palley, Inc.

Unfortunately they can go after dad's share of the business. I encourage you to find a probate attorney to help you out. Maybe you can work out a deal that's fair to all. -John

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Answered on 8/22/13, 11:46 am

Thomas Reid Happe Reid, PC

I would agree with Mr. Palley. However, if you had a buy/sell agreement in place with your father, you may have a right to purchase his share of the business from his estate before it passes to your siblings. You should seek out an estate planning attorney to assist you.

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Answered on 8/22/13, 12:10 pm

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