What happens if an owner dies or becomes disabled?
A written Agreement among business owners concerning what happens following the death or disability of one of them is critically important for both the family of the deceased/disabled business owner and the remaining business owner(s). This is true whether your form of business is a partnership, a corporation, or a limited liability company. Connecticut trial courts and appellate courts regularly describe cases involving disputes among business owners following the death or disability of one of them. A written Agreement spells out the rights and responsibilities of all owners in those circumstances, and, as a result, often avoids the uncertainty and disagreement that otherwise may arise when one owner dies or becomes disabled.
We would be pleased to meet with you to review your individual business circumstances and help you formulate a workable agreement among the business owners.