Full question:
My husband died intestate in January 8, 2010. He owned and operated a construction business as an LLC-Sole Proprietor. Now the creditors are after me. Should I set up an estate for him even if the debts exceed the assets? And if so, which forms should I order?
- Category: Wills and Estates
- Subcategory: Intestacy
- Date:
- State: Hawaii
Answer:
This situation requires more than just a few forms. It's essential to consult a local attorney who specializes in wills and estates, even though your husband died without a will. Generally, the debts of the LLC are not personally attributable to your husband unless he guaranteed them individually. You should review the specific agreements to determine this.
You are not liable for his debts unless you co-mingled funds or he personally guaranteed them. If the LLC is not going to continue, it will need to be dissolved, which can help address the debts through its remaining assets. Therefore, seeking legal guidance is crucial. Good luck to you.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.