What to do if my husband died recently and most of our assets were held in an LLC?

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What to do if my husband died recently and most of our assets were held in an LLC?

Our only son will inherit 1/4 of his estate and I will nherit the rest. To bring my son into the LLC, will we need to make all new deeds? What else will be necessary?

Asked on April 4, 2013 under Estate Planning, Kentucky

Answers:

Victor Waid / Law Office of Victor Waid

Answered 8 years ago | Contributor

From the sounds of your question, you have sufficient assets to acquire the assistance of good legal counsel, maybe the counsel who helped you establish the LLC or real estate counsel. You don't want to make a titling mistake in the deeds re your son. If the LLC was already in a trust also, then a good estate planning attorney can assist you. An ounce of prevention is a lot better than a pound of cure; your actions will have long term legal effects.


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