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My wife’s dad wants her to sign as a Trustee to his LLC
My wife's dad wants her to sign as a Trustee to his LLC He brought some papers and told her to sign as a Trustee and a Successor to his personal S-Corp and LLC. He said that when he passes, the company and its assets, such as 401K, will transfer to her. My questions and concerns are: does this make her liable for company taxes and debt as well? Why wouldn't she just be a beneficiary to his estate? W...
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