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Question

My husband's father and sibling has demanded my husband to leave the Family Restaurant Business. Is my husband entitled to his share of the business?

Submitted: 130 days and 5 hours ago.
Category: Legal
Value: $19
Status: CLOSED
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State/Country relating to Question: Alabama

Already Tried:
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Posted by SmallTownLawyer 130 days and 5 hours ago.

Info Request

Hello -

Thank you for contacting JustAnswer.

I would be happy to assist you, but I will need some further details.

1. Why did they ask him to leave?
2. Is your husband's father a shareholder in the business, or does he own an equity stake?
3. How long has he been working for the business?

Thanks,

Michael

130 days and 5 hours ago.

Reply

They asked him to leave because his father & siblings are always arguing and beckering about the business. My husband explodes with anger after taking so much from everyone in the family.

 

My husband's father is the owner of the business but his older sister is the President of the company.

 

It's been almost a year since the business open in this new location. Prior to that, my husband been in the family business since he left High School back in Gilroy, California.

 

The constant becking, complaining, & treatment that he received from his family member has ended at this point.

 

He wants to open his own Restaurant but we need financial help from his father who at this point not welling to assist.

 

Need immediate help.

 

Thank you,

Cynthia

Posted by SmallTownLawyer 130 days and 5 hours ago.

Answer

Cynthia -

If your husband's father is the owner of the business, they may not demand that he "leave the business", as he owns the business. He may demand that they leave, but no the other way around.

As the owner, there are no shares to be split, as he is the only one with a property interest. Therefore, if he left, the business would leave with him.

Hope this helps,

If my answer was helpful, please click ACCEPT so i may be compensated for my time. If you are not satisfied with the Answer, please feel free not to Accept, and post a follow up question so I may be able to clarify my Answer. My goal is to provide an outstanding Answer, so give me a chance.

Regards,

Michael

130 days and 5 hours ago.

Reply

I understand that my Father-in-law is the owner and may ask his son to leave but is it fair that he has put in his time in the Family Business while his other two siblings will reep all the benefits and my husband leaves without anything? What if my husband's father dies who will run the family business and where is my husband's share?

Posted by SmallTownLawyer 130 days and 1 hours ago.

Answer

I'm sorry I must have misunderstood the original question.

If your husband has no actual owernership in the business, meaning he is a partner or has some type of equity share, then he does not have a stake in the business and would get nothing if he was asked to leave.

If the Husband's father died, the business would go to the person he names in his will as the successor. You would have to look at the will to determine this. If for some reason he didn't leave a will, the business would pass by succession and would likely by sold and split amongst the heirs.

Hope this helps,

If my answer was helpful, please click ACCEPT so i may be compensated for my time. If you are not satisfied with the Answer, please feel free not to Accept, and post a follow up question so I may be able to clarify my Answer. My goal is to provide an outstanding Answer, so give me a chance.

Regards,

Michael

130 days ago.

Reply

I am still not satisfy with the result. When my husband asked to see the will or the agreement with the family business, his oldest sister who controls all family assests with her father, refuses to show any legal rights to my husband. My husband has no idea what legal paperwork is in place with the "WILL" or "FAMILY BUSINESS". How can he inquire this information without going through his family. Can this information be accessible to public records? If so, where can we begin to inquire? My husband has worked all his life in the family business and it is hard for me to accept that he will walk away without being compensated and his sibling will gain everything. How is this fair if he does not get his share?

Accepted Answer


Although it seems unfair, I can not change the law, I can only inform you as to what the law is. Please do not shoot the messenger.

Although you husband has worked all his life in the business, he has no "proprietary" interest. He does not own the business or any part of it. It does not matter how long he has worked there. If he leaves, he will get nothing, because he is entitled to nothing.

The only way to inquire about his father's will would be to ask his father. The Will is not filed in public records, but would be kept privately by your husband's attorney.

I'm sorry if this is not what you wanted to hear, I am simply telling you what the law says.

Hope this helps,

If my answer was helpful, please click ACCEPT so i may be compensated for my time. If you are not satisfied with the Answer, please feel free not to Accept, and post a follow up question so I may be able to clarify my Answer. My goal is to provide an outstanding Answer, so give me a chance.

Regards,

Michael

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Expert: SmallTownLawyer
Pos. Feedback: 99.4 %
Accepts: 664
Answered: 11/10/2009

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Licensed Missisippi Attorney; Criminal Law, Family Law, Personal Injury, and Civil Defense

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