My ebay account is registered to my fathers name/llc which is single member llc.
Now he is sick and if he passes away can I completely put a new LLC to this ebay account?
Or should I add myself as an additional member to the current LLC so it stays valid ?
The complete step-by-step guide to get back to selling today!
The LLC is only for ebay, no other liabilities and father has no other links or activities, just receives SS benefits, wife with him.
The ebay account is my ebay but using his details (with permission). The ebay is good with nice feedback.
Father has no actual involvement in this, just I use his details and file and pay his taxes on it.
Its really just sad if the account was wasted if it could've been saved.
Quote:
Originally Posted by agent006140
We dont know enough to advice him-
Does he have a will?
Does he owe any debt,esp Uncle SAM?
IRS is known to seize fund from Paypal account and bank account .
If you add your name to his LLC,what is your liability?
I dont think you can change his Ebay account and what about the bank account linked to his Ebay account?
Why do you want to preserve his account?Does he have high feedback?Does he owe all the inventory ?
If so,where is it now?
I know a case where the man past away,his wife and his children from past marriage both try to claim all the content of the house,if he does have physical inventory,you may want t o take possession of them before you takeover his Ebay account.
We dont know enough to advice him-
Does he have a will?
Does he owe any debt,esp Uncle SAM?
IRS is known to seize fund from Paypal account and bank account .
If you add your name to his LLC,what is your liability?
I dont think you can change his Ebay account and what about the bank account linked to his Ebay account?
Why do you want to preserve his account?Does he have high feedback?Does he owe all the inventory ?
If so,where is it now?
I know a case where the man past away,his wife and his children from past marriage both try to claim all the content of the house,if he does have physical inventory,you may want t o take possession of them before you takeover his Ebay account.
Forum is not set up to provide financial / legal professional advice
After his father past away,there would be no SS checks sent,but if he keeps using the account to sell,Ebay will send IRS a copy of 1099K showing the gross proceeds,if it is a large sum,IRS expects him to file a tax return.
Worse,IRS may want to audit him in person!!
IRS may not know he has past away,it is up to his family to explain why he cant come to an audit.
Once a Pennyslvnia farmer claimed 2 dependents Jack and Jill for 16 years until they past away, they are his PET DONKEYS.
There are some dead people who are still collecting SS benefits
IRS may not know he has past away,it is up to his family to explain why he cant come to an audit.
Once a Pennyslvnia farmer claimed 2 dependents Jack and Jill for 16 years until they past away, they are his PET DONKEYS.
There are some dead people who are still collecting SS benefits
Adding member to LLC 
