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Wife responsible?

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floradelaluna

Junior Member
What is the name of your state (only U.S. law)? GA

Husband has small business, incorporated. Wife is an employee and can sign checks. If he dies, is wife responsible for business debts?
 


HomeGuru

Senior Member
What is the name of your state (only U.S. law)? GA

Husband has small business, incorporated. Wife is an employee and can sign checks. If he dies, is wife responsible for business debts?
**A: yes if wife is a shareholder of the corporation and in some cases yes, if wife is an officer of the corp.
 

tranquility

Senior Member
The only debts the wife could be "responsible" for are trust-fund taxes not paid over. Otherwise (absent facts not in evidence regarding the ability to pierce the corporate veil), the corporation is responsible for the corporation's debts.

That may reduce the value of the corporation's assets to the now, sole, owner, but it does not make her "responsible" for the debts.
 

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