Am I entitled to a paycheck of my husband's company until someone buys it? 7 Answers as of January 06, 2012

Am I entitled to a paycheck until my 40% of the company is bought out after my husbands death?

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Neighborhood Law Office, P.C. | Jim Underhill

I am sorry for your loss. You need to immediately see a lawyer experienced in small business issues. You do have rights as a shareholder at minimum, and you may have other rights as well. However, like fish, nothing in a business dispute gets better with age.

Answer Applies to: Colorado

Replied: 1/6/2012

Martinson & Beason, PC | Douglas C Martinson II

There is not enough information to answer your questions. You may mean a dividend or share of the profits instead of a "paycheck". If your husband owned stock in the company, then you would be entitled to it unless there was a Shareholder Agreement or a Buy Sale. There are a lot of factors involved and you need to seek legal advice.

Answer Applies to: Alabama

Replied: 1/5/2012

THE BROOME LAW FIRM, LLC | Barry D. Broome

Yes, if you are an employee and working. If the terms of the sale included your income for a period of time or if you are part of the sales agreement.

Answer Applies to: Georgia

Replied: 1/5/2012

Law Offices of Frances Headley | Frances Headley

The answer to your question depends upon the buyout agreement provisions. You should consult an attorney familiar with contracts and business buyouts.

Answer Applies to: California

Replied: 1/5/2012

Myles A. Schneider & Associates | Myles Albert Schneider

Only if you are an "employee."

Answer Applies to: Arizona

Replied: 1/5/2012

Wiegandt& Doubles | Malcolm Doubles

That depends on the nature of the payment - if for service rendered, then no; if for equity payment or profit sharing, then maybe. You may have to check the company's organizational minutes to make a final determination.

Answer Applies to: Virginia

Replied: 1/5/2012