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Law Pro
Law Pro, Attorney
Category: Business Law
Satisfied Customers: 24870
Experience:  20 years experience in business law - sole proprietor, partnership, and corporations
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To Law Pro Following up on yesterday. The restaurant without

Resolved Question:

To Law Pro
Following up on yesterday. The restaurant without the LLC papers signed.
Can my Father leave his share in the company to a family member? The agreement that was never signed stated that upon the death of one partner the other would buy out their share. How do I proceed to make sure his share is protected?
Submitted: 3 years ago.
Category: Business Law
Expert:  Law Pro replied 3 years ago.
Hi. Thank you for asking for me.

In GA, in the absence of clear repurchase rights set forth in a written and executed operating agreement, a deceased member’s LLC membership interest automatically passes into the estate of the deceased member.

From there, the LLC membership interest will be distributed out of the deceased member’s estate as directed by the deceased member’s will or, if the deceased LLC member dies without a will, as directed by GA law.

In either case, the deceased member’s LLC membership interest will pass to the member's heirs or family members.

So you need do nothing - his interest automatically passes to his heirs.

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