If you lost a loved one who also happened to be a business owner, you may be searching to understand what Georgia probate laws apply to your situation.
How can you keep the business running as smoothly as possible, given the circumstances, and protect your family as well as the company’s employees?
Obviously, the loss of an owner can have powerful ramifications for the business itself, whether it’s a small, close-knit organization (5 to 10 people) or a mid-size company with 50 or more employees. Did owner make arrangements for a successor? Should the company be sold? If so, what timeframes and milestones should by identified and tracked?
Perhaps the business is a family business, and there is a risk that the heirs could fight over the helm or direction of the company. Or maybe a partner wants to buy out the family’s interests. Should you sell? If so, how should you negotiate a fair price and terms?
These and other issues are concerns on top of the normal challenges of probate and trust administration. At Georgia Probate Law Group, we will help you move in the right direction and find solutions based on the unique facets of your situation, the business’s financials, and the succession plan, if there was one.
A qualified attorney who understands Georgia probate law can help keep operations running and avoid potential problems, such as disgruntled creditors or vendors suing the business, key employees losing or leaving their jobs, and tax consequences draining your loved one’s estate.
Call us today at (770) 920-6030 to set up a complimentary, confidential consultation with our team to discuss how probate court laws apply to your specific situation.