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Anthony Law Legal Blog

Check out our business law blog to learn more about the business law news.

Posts tagged Ben MacDowell
What Happens to My Business if I Die?

In an LLC, the operating agreement typically dictates what happens to a member’s interests when he or she dies or becomes incapable of serving in their current role. If an operating agreement is silent, state law will govern what happens. In some states, a LLC must dissolve upon the death or resignation of a member. In others, including Ohio, the executor of the deceased member’s estate has the power to determine what happens to the business interests. In order to avoid any unforeseen consequences, it is important to make sure that all potential consequences are considered, and that the member’s intentions are clear.

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