Category: Single Member LLC

This is the final Part of a three part series on the legal issues surrounding the death of a single member of an LLC in Arizona. Most single member LLC owners who are married are usually agreeable to having their spouse inherit their LLC ownership interest in case the member unexpectedly dies.  However, every so often our Phoenix business law firm sees a situation where a relative or outside third-party has deep reservations about the surviving spouse taking over the LLC or has a vested interest in not being in business with the surviving spouse. In Part 1, we were introduced to “SM”, a married owner of a single member LLC operating a growing and highly profitable business here in Arizona.  Like most young business owners I see, SM had…

This is Part 2 of a three part series on key legal issues surrounding the unanticipated death of a member of a single member LLC in Arizona. Most single member LLC owners who are married are usually agreeable to having their spouse inherit their LLC ownership interest in case the member unexpectedly dies.  However, every so often our Phoenix business law firm sees a situation where a relative or outside third-party has deep reservations about the surviving spouse taking over the LLC or has a vested interest in not being in business with the surviving spouse. In Part 1, we were introduced to “SM”, a married owner of a single member LLC operating a growing and highly profitable business here in Arizona.  Like most young business owners I see, SM…

This is Part 1 of a three part series on key legal issues surrounding the unanticipated death of a member of a single member LLC in Arizona. Most single member LLC owners who are married are usually agreeable to having their spouse inherit their LLC ownership interest in case that member unexpectedly dies. However, every so often our Phoenix business law firm sees a situation where a relative or outside third-party has strong concerns about the surviving spouse taking over the LLC or otherwise has a strong preference in not being forced into doing business with the surviving spouse. Take a recent situation our Arizona emerging business law firm was asked to work on.   The single member LLC owner (we'll call him "SM") of a growing and highly profitable business…