Family business succession question

Family business succession question

Posted in the Wilmette Forum



#1 Nov 18, 2009
Situation: a 40 year old small family business is owned by 75 year old widow. She owns the company, signs the checks but the son completely runs the business, keeps it viable, but is technically an "employee". Sister does nothing for the business.

If mom passes, do both heirs get 50/50 of the business? Or, is the son allowed to claim more?

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