2 Member LLC both deceased

Posted By: Bec

2 Member LLC both deceased - 02/12/13 10:15 PM

We have a husband and wife who were both the ONLY members in an LLC. They are now both deceased. DOes the LLC get dissolved and settled with the estate at that point?
Posted By: rlcarey

Re: 2 Member LLC both deceased - 02/13/13 03:58 AM

It depends on the operating agreement or by default, State law as to what happens to the LLC at this point. The LLC does not die with its members. It depends on the dissolution provisions.