Phone: (989) 539-3996 - Fax: (989) 539-3980
Office Hours - Monday - Friday 8 am to 6 pm Eastern Standard Time(EST)
NO CALLS ON SATURDAY OR SUNDAY
Q. #11. What do I do about a child whose spouse always seems to be interfering in the business of our company?
A. This is a delicate matter and the solution depends on the type of family relationship that you wish to maintain. If the spouse has no financial interest in your business and is not employed by the business, then you can "delicately" inform the spouse to, in essence, "butt out". If the spouse is an employee, then it may be more difficult in that he/she may feel that he/she has a more important role than just being an employee. If the spouse has an ownership interest in the business, whether by outright purchase or gift, or by right of an inheritance from your deceased child, then the spouse has a legal right to know, at least to some degree, what is going on with the business that might beneficially or adversely affect him or her.
If the spouse has no financial interest of any kind in the business at this time, then you MUST obtain a properly drafted estate plan which will specifically exclude the spouse from any interest in the business including any potential inheritance as the spouse of a deceased child.
Protecting the Wealth of our clients for over 38 years.
FREE 20 minute phone consultation!
Search by Keyword