Probating a business in Georgia is overwhelming.
There are a TON of moving pieces.
There’s a lot of opportunity to mess things up financially.
And you don’t want to be personally liable for financial mistakes.
This gives you an overview of what you need to do to handle it all.
A business needs to go through probate depending on how ownership is set up.
Either they are set up to automatically transfer ownership or not.
Here is how the probate process works with a business.
Identify how the business is set up:
Gather documents like:
File the will at the Probate Court in the county the deceased lived in.
If there’s not a will, the estate gets split up per Georgia intestate laws.
The courts will appoint an:
Either way, this is the person who manages the estate and distributes it.
This person will have to put together a detailed inventory of business assets, like:
The documents that you need to gather are:
Here is how to appraise the property:
Our business appraisers handle this for you.
We will provide you with the detailed report the probate court needs.
Fill out the form on this page to get started.
Notify the creditors of the deceased’s passing.
You may have to sell assets to pay off creditors of the estate.
Depending on the business structure, the executor or administrator may need to:
Depending on the will and business operating agreements, you will have to:
MAKE SURE you are complying with:
You don’t want to be legally liable for financial mistakes here.
We will take this off your plate so you avoid any litigation or liability.
Fill out the form on this page to talk to our team.
After settling debts, distribute the remaining assets to the beneficiaries.
Put together the final accounting presentation.
Then, file it with the probate courts.
The judge will approve the accounting and close the estate.
Here are things that trip people up the most.
To value a business, here are the steps the executor should take:
Our probate lawyers have the experience needed to navigate this.
Fill out the form on this page to get help today.
Here is how business debts get handled during probate.
It depends on if the business is a:
Transferring ownership of a business depends on ownership structures.
For Corporations and LLCs:
For Sole Proprietorships and Partnerships:
Are you overwhelmed by the process of probating a business?
Our Georgia probate attorneys handle everything for you.
We specialize in taking as much as possible off your plate so that you are not:
Fill out the form to take this off your plate.
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