Skip to content
Personal Finance

User Stats

4
Posts
0
Votes
Mike McGuire
  • Paramus, NJ
0
Votes |
4
Posts

Grandfathers LLC /Trust

Mike McGuire
  • Paramus, NJ
Posted May 2 2017, 08:25

My grandfather had an LLC in his name set up as a partnership and also a living trust. My siblings and I were 15% "owners" and my mother was 60%....something like that!

I had to file a 10-K every year for earnings/losses of the LLC on my tax return.

My question is that my grandfather passed aways a few months back, so now what happens? My mother was the executor and to tell you the truth...I don't trust her!

As usual money ruins, everything. He had a lot of it...mostly in stock. He would always tell us that when he passes he will take care of us but then you would hear my mother say he left her everything? What does this 15% owner of the trust/LLC mean to me and my siblings? Doesn't my mother legally have to let us know if he left us anything?

Loading replies...