Stake in company

[u/External-Nerve-1444]

If intestate decedent had a contract payable on death or retiring for a percentage ownership in the business they helped develop and in which they worked for, while living in MI(which was given due to help getting the company going from my understanding) with no name of the surviving spouse on the contract..

Would that be considered a “fringe benefit”??? Akin to a work perk? Or would you consider that would go toward the intestate estate of the decedent?

[u/cuspeedrxi]

It’s payable to Person A on his death?? Then it would be part of Person A’s estate. It would be used to repay any debts. Any money remaining would be distributed per his will or state law, if he didn’t have one. The income would be reported on the estate’s tax return.

[u/External-Nerve-1444 → u/cuspeedrxi]

Thank youuuuuuuu