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If a member of an Arizona LLC dies and the member did not take action to protect the member’s loved ones bad things will happen.  The failure to plan creates the following problems: 1. The membership interest of the deceased member may not be inherited by the person or people the deceased member would want to inherit the membership interest. 2. A person who inherits the membership interest of a deceased member of a multi-member LLC will not be a member of the LLC.  Instead, the heir will acquire only an economic interest in the LLC, which means the heir(s)… Continue Reading Bad Consequences of the Death of a Member of an LLC
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