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 11 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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