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Dear Listmates,
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<div class="">Decedent, together with a couple of partners, started a business and bought a building in which the business was located. They formed two LLCs, one for business, one for building, decedent a third owner in each. Business is still functioning and
cannot be moved to a different location (location, nature of business and expensive building improvements already made). Decedent’s share of Business LLC already paid to estate. </div>
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<div class="">Value is in the building, not in the business. Operating agreement of<b class=""> </b>Building LLC<b class="">
</b>allows for share to be offered to the living members first, then to general public (obviously, for the second there is no realistic market). They do not have the money to buy out the deceased partner’s share and did not get life insurance. They state that
refinancing of current mortgage would be ‘detrimental’. They further state that they plan to retire in 3-4 years and would sell the building and business at that point. Payout to estate, in their minds, would be at that point.</div>
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<div class="">Decedent’s heirs (siblings) live out of state and would rather avoid any court clashes to force the hand of the living Building LLC members. </div>
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<div class="">They are ready to wait. </div>
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<div class="">I am not. </div>
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<div class="">But, I have a hard time formulating a winning strategy. Any help would be appreciated.</div>
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<div class="">Kind regards, Neli
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<font color="#5bd2e6" class="">___________________________________</font></div>
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<b class=""><font color="#1b40af" class=""><font class=""><span class=""> Neli Espe, J.D., </span></font><font class=""><span class="">Olympic Legal </span></font></font></b></div>
<div class="" style="font-family: Optima-Regular; margin: 0px;"><span class="" style="color: rgb(19, 63, 233); font-family: Eurostile; font-size: 12px;"> </span><font color="#003649" class=""><span class="" style="font-family: Eurostile; font-size: 12px;">
</span><span class="" style="font-size: 12px;"> 360.630.3635</span></font></div>
<div class="" style="font-family: Optima-Regular; margin: 0px;"><font color="#003649" class=""><span class="" style="font-size: 12px;">2114 Commercial Ave., Anacortes</span></font></div>
<div class="" style="font-family: Optima-Regular; margin: 0px;"><span class="" style="color: rgb(19, 63, 233); font-size: 12px;"> <a href="http://olympiclegal.com/" class="">olympiclegal.com</a></span></div>
<div class="" style="font-family: Optima-Regular; margin: 0px;"><span style="caret-color: rgb(27, 64, 175); color: rgb(27, 64, 175); font-size: 12px;" class=""> </span><span class="" style="font-size: 12px;"><font color="#1b40af" class=""><font class=""><span class="">Estate
Planning </span></font><span class="">|</span> Probate </font></span></div>
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