My husband recently passed and was the only member of an LLC, can the LLC be transferred after death?

I have obtained appointment as my husband’s personal representative by the probate court and I am also named as executor in his Will. I would like to maintain the business.

Asked on April 6, 2018 under Estate Planning, South Carolina

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

A person's interest in an LLC can be inherited the way any other property would be. If your husband was the sole owner of the LLC, then as his surviving spouse:
1) If there is a will, you will inherit the LLC if the will leaves it to you; otherwise, it goes to whomever he willed it to.
2) If there was no will, the LLC passes by "intestate succession" (the rules for who gets what when there is no will). If there are no surviving children of your husband, you will be the only person to inherit the LLC: if there are surviving children, you get a 1/2 interest in the LLC, his children share the other 1/2.


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