What measures need be taken by spouse who is half owner of an s corp to ensure his spouse will receive income upon their death.

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A 2 person s corp business. Spouse owns 49.5 shares. Partner owns 50.5 shares.

Attorney Answer

1
Daniel Lam ·
The shareholders should enter into a shareholders' agreement or buy-sell agreement to establish, among other things, the rights upon death, disability, divorce, etc. THE ANSWER PROVIDED ABOVE IS NOT LEGAL ADVICE AND IS FOR GENERAL PURPOSES ONLY AND DOES NOT ESTABLISH AN ATTORNEY-CLIENT RELATIONSHIP.
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