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Richard
Richard, Attorney
Category: Business Law
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Experience:  32 years of experience practicing law and a businessman.
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I am investing in a startup LLC. It asked me how I want to

Resolved Question:

I am investing in a startup LLC. It asked me how I want to take ownership and lists options. I am a married man. I would like to take individual ownership, but I do not wish to exclude my wife. I am assuming I can say individual ownership but my wife will still retain my ownership if anything happens to me is this correct?
Submitted: 4 years ago.
Category: Business Law
Expert:  Richard replied 4 years ago.

Good evening. You can take ownership in your name. In the event you were to die, your interest would pass pursuant to the terms of your will. That beneficiary would continue to own the interest unless the LLC operating agreement has specific buy/sell provisions governing interests of deceased members.

I hope this has given you the guidance you were seeking. I wish you the best of luck!

 

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The information given here is not legal advice. As all states have different intricacies in their laws, the information given is general only. This communication does not establish an attorney-client relationship with you. I hope this answer has been helpful to you.

 

Richard, Attorney
Category: Business Law
Satisfied Customers: 45704
Experience: 32 years of experience practicing law and a businessman.
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