What happens to an LLC when one of the members dies?
LLCs are probably the most popular choice for a business entity for small businesses to operate in the U.S. Many LLCs only have a single member, but many more have multiple members.
One of the inevitable events in life is death. So, what happens to an LLC when one of the members dies?
There are consequences to the LLC itself, to the other members, and the family of the deceased member.
This podcast discusses the importance of taking the inevitability of death into account at the beginning of an LLC.