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Legal Eagle
Legal Eagle, Lawyer
Category: Estate Law
Satisfied Customers: 5270
Experience:  Licensed to practice before state and federal court
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I just tried to send a lengthy message on Bills homepage. I

Customer Question

I just tried to send a lengthy message on Bills homepage. I typed the whole thing out, then it wouldn't send. I'm going to go back to the page and see if I can copy and paste it to you so I don't have to retype it again.
JA: What state are you in? It matters because laws vary by location.
Customer: ok, well it wasn't threre when I went back. Shall I start over again..... it's very important to me. It involves a business my boyfriend and I have owned for 10 years
JA: Has anything been filed or reported?
Customer: no
JA: Anything else you want the lawyer to know before I connect you?
Customer: no ma'am
Submitted: 3 months ago.
Category: Estate Law
Customer: replied 3 months ago.
This has to do with my boyfriends passing. Our business was in his name, but he transferred it to me when we discovered he has terminal cancer. He did not have insurance and has accumulated probably $200k in medical bills. My concern is creditors taking our business from me to cover his bills. Can they do this? Is there any way I can protect the business from this happening? We have lived in a small apartment attached to the bar & grill also. If I lose this place, I've got nothing. We both of have worked our ass off here for 10+ years.
Customer: replied 3 months ago.
Just to be clear, he has passed away.
Expert:  Legal Eagle replied 3 months ago.

Hello! I am a licensed attorney, admitted to practice in state and federal court. I have a nearly 100% satisfaction rating so all that means is that you can count on me to help today. I’m so sorry to hear about your loss. The upside your situation is that if your boyfriend transferred the business to you then the insurance company will not be able to come after you for any unpaid bills. The reason is because the business is no longer a part of his personal estate. This means that they will have to try to find some other asset like a home or a car to put a lien on before they are able to do anything with your business. Regardless, let's save for some reason in the worst case scenario the business was still in his name at the time he died, the insurance company will only be able to have a lien on the property which means that if you decide to sell then they're going to get their cut. Simply because he owed money it does not mean that it's going to force you to sell your business. The only time that you may be forced to liquidate is if you file for bankruptcy.

Follow up questions are free, so please feel free to ask away. You can also click here in the future to request me individually. If you don’t have any additional questions, were you satisfied with my service today?

Customer: replied 2 months ago.
I'm not asking about an insurance company. Not sure if that makes a difference. I'm asking about medical creditors. I've been told that in Missouri, creditors have a year after a persons passing if they transferred assets to try and recoup monies owed to them.
Expert:  Legal Eagle replied 2 months ago.

I see what you mean. Yes, this will apply to all of his creditors. And the creditors have rights when the property is a) not already paid through the person's will; b) property was held in joint tenancy (i.e. a joint bank account); or c) left as a gift in a will. In your case, if he simply transferred before death to you as a sale or a gift, you are fine:-)