What are my options if my ex-wife died and she was buying out my half of our business?

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What are my options if my ex-wife died and she was buying out my half of our business?

We had a business. She bought my half of the business. She makes monthly payments to me. She was recently killed in a traffic accident. The contract for payment of the business is in our divorce decree.

Asked on March 15, 2013 under Business Law, Texas

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

I am so sorry for the loss.  If there is a biding contract that is in place at the time of death, the decedent's estate - through the Executor or Personal Administrator - is responsible for enforcing it and/or living up to the terms.  So now you need to decide how you wish to handle things given her death.  You could re-negotiate and buy it back from the estate I am sure. Good luck.


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