If my brother died and had a business, what will happen to his home and assets?
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If my brother died and had a business, what will happen to his home and assets?
He was not married but lived with his girlfriend for 9 years.
Asked on April 5, 2012 under Estate Planning, Massachusetts
Answers:
Steven Fromm / Steven J Fromm & Associates, P.C.
Answered 12 years ago | Contributor
If he had a will that would control the situation. If the died without a will then the laws of intestate succession would determine the takers of his estate. Someone needs to be named administator if there is no will and there are procedures for doing so. Get with an estates attorney immediately to explore the situation in more detail and discuss your options. Do this now!
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
I am so sorry for loss. Did your brother have a Will and name an executor? Or did he die intestate - with out a Will? Either way some one neds to be appointed as the personal reporesentative. The business has to either be sold or liquidated. It needs to be valued for estate purposes. The girl friend does not inherit unless she is in the Will. Good luck.
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