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The underlying issue seems to be that Bob Ross, Inc, was set up with a right of survivorship. Since the Kowalskis outlived Bob (and his wife at the time) they e
by ksherlock 4y ago
The underlying issue seems to be that Bob Ross, Inc, was set up with a right of survivorship. Since the Kowalskis outlived Bob (and his wife at the time) they ended up owning the company. Right of survivorship is common in real estate^1 but seems like a bad choice for a non-family business because n-1 owners will get shafted.
1. Example: a parent and a child own property as join tenants with right of survivorship. The parent dies and the child now owns the property without having to deal with wills or go through probate.
- gwern 4y agoWhen you put it that way, it sounds even shadier of the Kowalskis, because they were the ones who set it up and it sounds like it was known from early on that Ross had health issues and one or both of them would likely outlive him.
- schemescape 4y agoIf I read correctly, it sounds like when Bob Ross and his wife died, their shares of the company were divided amongst Annette and Walt Kowalski. What happens when the remaining two original partners die?
- deleted 4y ago[deleted]