Have Legal Questions? Ask a Lawyer Now.
No, it was a general LLC format from Maryland. Let me see if I can get a copy real quick
A creditor would only have a claim to the value of the ownership interest itself. - No sure exactly what that means. The former or ex spouse is trying to assert a child support balance against the LLC.
My understanding from what you are saying is that she would not have a claim against the LLC for the child support claim she is making against his estate. i.e. LLC cash where I am the remaining member in the LLC. and as the only member in the LLC. The LLC assests are not included as part of his estate.
This would extend past the date of death. The Profit earned after the death is also included in his estate until the LLC is dissolved.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).