> ## Documentation Index
> Fetch the complete documentation index at: https://api.hellosunset.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Business Ownership Guide

> Guide to managing business interests, succession planning, and entity disposition during estate settlement.

# Business Ownership Guide

The Sunset API helps you manage business interests owned by the deceased, including LLCs, corporations, partnerships, and sole proprietorships. This guide covers the workflow from discovery through succession or dissolution.

## API Path

```
/cases/{case_id}/businesses
/cases/{case_id}/businesses/{business_id}
```

## Typical Workflow

### 1. Add business interests

Record each business entity the deceased had an interest in:

```bash theme={null}
curl -X POST "https://api.example.com/v1/cases/{case_id}/businesses" \
  -H "Content-Type: application/json" \
  -d '{
    "entity_type": "llc",
    "business_name": "Doe Family Properties LLC",
    "state_of_formation": "UT",
    "ein": "87-1234567",
    "status": "active",
    "deceased_role": "sole_owner",
    "ownership_percentage": 100.0,
    "estimated_value": 450000.00,
    "has_operating_agreement": true,
    "has_buy_sell_agreement": false,
    "registered_agent": "Utah Registered Agents Inc.",
    "annual_revenue": 72000.00,
    "employees": 0
  }'
```

### 2. Record co-owners and succession plan

For multi-owner businesses:

```bash theme={null}
curl -X POST "https://api.example.com/v1/cases/{case_id}/businesses" \
  -H "Content-Type: application/json" \
  -d '{
    "entity_type": "s_corp",
    "business_name": "Johnson & Johnson Consulting Inc.",
    "state_of_formation": "UT",
    "status": "active",
    "deceased_role": "partner",
    "ownership_percentage": 50.0,
    "co_owners": [
      {
        "name": "John Johnson",
        "role": "partner",
        "ownership_percentage": 50.0
      }
    ],
    "has_buy_sell_agreement": true,
    "succession_plan": "continue_with_partners",
    "notes": "Buy-sell agreement provides for surviving partner to purchase at appraised value"
  }'
```

### 3. Record professional licenses

If the business involves professional licensing:

```bash theme={null}
curl -X PATCH "https://api.example.com/v1/cases/{case_id}/businesses/{business_id}" \
  -H "Content-Type: application/json" \
  -d '{
    "professional_licenses": [
      {
        "license_type": "Real Estate Broker",
        "license_number": "RB-2019-5678",
        "issuing_state": "UT",
        "expiration_date": "2026-06-30",
        "status": "active"
      }
    ]
  }'
```

### 4. Resolve the business

```bash theme={null}
curl -X PATCH "https://api.example.com/v1/cases/{case_id}/businesses/{business_id}" \
  -H "Content-Type: application/json" \
  -d '{
    "succession_plan": "dissolve",
    "status": "dissolved",
    "notes": "LLC dissolved with Utah Division of Corporations. Assets distributed to estate."
  }'
```

## Entity Types

| Type                   | Description                    |
| ---------------------- | ------------------------------ |
| `c_corp`               | C Corporation                  |
| `s_corp`               | S Corporation                  |
| `llc`                  | Limited Liability Company      |
| `general_partnership`  | General partnership            |
| `limited_partnership`  | Limited partnership            |
| `sole_proprietorship`  | Sole proprietorship            |
| `dba_trade_name`       | DBA / Trade name               |
| `franchise`            | Franchise                      |
| `professional_license` | Licensed professional practice |
| `nonprofit`            | Nonprofit organization         |

## Succession Plans

| Plan                     | Description                 |
| ------------------------ | --------------------------- |
| `sell`                   | Sell the business interest  |
| `transfer_to_heir`       | Transfer to a beneficiary   |
| `dissolve`               | Wind down and dissolve      |
| `continue_with_partners` | Surviving partners continue |
| `pending_decision`       | Not yet decided             |

## Deceased Roles

| Role             | Description                 |
| ---------------- | --------------------------- |
| `sole_owner`     | 100% owner                  |
| `majority_owner` | >50% ownership              |
| `minority_owner` | \<50% ownership             |
| `partner`        | General or limited partner  |
| `officer`        | Corporate officer           |
| `director`       | Board member                |
| `shareholder`    | Stock holder                |
| `member`         | LLC member                  |
| `manager`        | LLC manager                 |
| `license_holder` | Professional license holder |

## Key Considerations

* **Operating agreements and bylaws** dictate what happens to ownership upon a member's death. Review these first.
* **Buy-sell agreements** may require the business or surviving partners to purchase the deceased's interest at a predetermined price or formula.
* **Sole proprietorships** have no separate legal existence. Assets and liabilities become part of the estate directly.
* **Professional licenses** are non-transferable. A practice built on personal licensure may lose significant value.
* **EIN and state registrations** may need to be updated or cancelled depending on the succession plan.
* **Business debts** may create personal liability depending on the entity type and any personal guarantees.
* **Valuation** of business interests often requires a professional appraiser, especially for closely-held companies.