D Eckerman Posted July 21, 2007 Report Share Posted July 21, 2007 Hi, A newly married couple - Dec 2006, moved to IL in March 2007, to run a crop dusting service. His LLC as a sole proprieter is established in WI. He did not change anything there but set up a bank account in IL. How does the surviving spouse access this account and close out the business? WI is community property but IL is not.... Help please, her attorney in WI doesn't even know what to do - plus after our experience with our son and probate,, I want to try and minimize her atty fees, etc. The estate is worth less than $200,000 - business equipment are the only assets. Thank you for responding - And thank you fro being here over the summer - It has been crazy and now I'm finally back to taxes, D Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted July 21, 2007 Report Share Posted July 21, 2007 First, she needs to get a new attorney. Seriously, this is a legal issue rather than a tax one. And it is state-specific. And if the attorney does not know something as simple as how to set things up to access the bank account, she needs to find one who does. It's a matter of state laws, so I'm not going to try to answer in detail, as I have no idea of those laws. But in general, the first question is 'did he have a will'? If not, she is going to have to go to court FIRST, to get herself appointed executor of the estate. Then she is going to have to advertise for creditors, etc, before she can spend a cent of his money. And she is going to have to keep good records of everything she does, because she is going to have to report to the court on everything. I'm praying for her that he did have a will, and that it was updated or made after the marriage. But odds are bad on that, in my experience. Dee, I understand you want to help her, but honestly, she NEEDS a good attorney right now. Tell her not to be penny-wise and pound-foolish and try to use a young, inexperienced attorney for this one. Or it will all end up going to lawyers anyway, most likely. Quote Link to comment Share on other sites More sharing options...
D Eckerman Posted July 22, 2007 Author Report Share Posted July 22, 2007 Thank y ou KC, Excellant advice and what I was looking for - especially the court - appointed etc... I agree on the atty also but small town and someone is helping her but I'll see what I can do. Thx again. Darlene Quote Link to comment Share on other sites More sharing options...
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