Business Litigation, Decedent Protection

Must a Professional Corporation Redeem the Shares of its Retired Shareholders?

Farrell Fritz, P.C. on 7/3/2023

I previously wrote that one of the most difficult periods in the lifecycle of a closely held business is the period following the death of an owner, due to the tension between the remaining owners wishing to continue the...more

How to Resolve Competing Estate Plans of an LLC Owner with a Double Life

Farrell Fritz, P.C. on 6/8/2020

Corporate shareholder and LLC operating agreements routinely contain provisions addressing the transfer of equity interests upon the death of an owner of a closely-held business. Such provisions are vital for succession...more

Death of Limited Partner Disarms Derivative Action

Farrell Fritz, P.C. on 2/10/2020

I’ve yet to see him make a court appearance, and hope I never do, but the Grim Reaper sure has a knack for disrupting business divorce litigation involving LLCs and limited partnerships....more

LLC Survives Member’s Death. Dissolution Petition Doesn’t.

Farrell Fritz, P.C. on 11/18/2019

In 2018, two members of a realty holding LLC sought judicial dissolution based on the death of one of the other members. The operating agreement defines a member’s death as an event of “Dissociation.”...more

Probate & Fiduciary Litigation Newsletter – October 2019

Goulston & Storrs PC on 10/21/2019

The Probate & Fiduciary Litigation Newsletter compiles recent Trust & Estate cases. Our lawyers are at the forefront of this area of the law, shaping how it is handled in the Probate and Family Court. ...more

Operating Agreement Dooms Derivative Claims by Deceased LLC Member’s Estate

Farrell Fritz, P.C. on 4/16/2018

In business divorce litigation, petitioners / plaintiffs often want to start the case with a bang. A common tactic is to file a petition / complaint simultaneously with an injunction motion. Often there is a real need for an...more