Checklist for Probating a Business in Georgia | 7 Easy Steps

Checklist for Probating a Business in Georgia

When a business owner passes away, someone has to take care of what’s left behind.

If that someone is you, and you’re feeling overwhelmed, you’re not alone.

Most people haven’t gone through probate before—especially not for a business.

This resource is your full checklist for probating a business in Georgia, written in plain English.

No fluff, no confusing legal terms—just clear steps, helpful examples, and tips that make everything easier.

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Understand What “Probate” Means and Why It’s Required

What This Means:
Before you can legally sell, transfer, or close a business after someone dies, you usually have to go through probate—a court process that proves the will (if there is one), pays off debts, and distributes what’s left.

Why This Matters:
You can’t legally access business assets, transfer ownership, or make decisions on behalf of the business until probate starts and you’re officially named as the executor (if there’s a will) or administrator (if there’s no will).

Key Terms:

  • Executor: The person named in the will to manage the estate.
  • Administrator: A person appointed by the court when there is no will.
  • Estate: Everything the person owned when they died—including business interests.

Step 1: Start the Probate Process for the Business in Georgia

What This Means:
You can’t handle the business until the court gives you legal authority.

Action Steps:

  1. Go to probate court in the county where the business owner lived.
  2. File the will (if there is one) and ask to be appointed.
  3. If there’s no will, ask to be appointed as the estate’s administrator.
  4. Once approved, the court will issue “Letters Testamentary” or “Letters of Administration”—legal documents that give you the power to act.

Tip: Bring a copy of the death certificate and any business documents you can find (LLC paperwork, tax returns, etc.).

Step 2: Secure and Protect the Business

What This Means:
Before you can sell or transfer anything, you need to make sure the business is safe and still running—if it’s active.

Action Steps:

  1. Secure access to business property (lock up buildings, protect inventory).
  2. Change locks and passwords if needed.
  3. Notify employees and vendors if the business is still operating.
  4. Open a separate estate bank account to handle business-related income or expenses.
  5. Contact banks and credit card companies to freeze or update accounts.

Example:
If the business has customers still paying invoices, set up a way to collect that money into the estate account. Don’t use personal accounts.

Step 3: Gather Business Documents and Records

What This Means:
You’ll need to know what the business owns, what it owes, and what it’s worth.

Action Steps:

  1. Find formation documents (LLC articles, partnership agreements, etc.).
  2. Collect financial records: bank statements, tax returns, P&L sheets, contracts.
  3. Get a list of all business assets (equipment, inventory, intellectual property).
  4. Track down any debts (loans, unpaid vendors, leases).

Tip: Make a digital folder to keep everything organized. You may need this later to file taxes or sell the business.

Step 4: Get the Business Appraised (If Needed)

What This Means:
If the business is going to be sold or transferred, you may need a professional appraisal to figure out what it’s worth.

Action Steps:

  1. Hire a business appraiser who has experience with probate.
  2. Get a written report—this will help if you’re dividing assets among heirs or need to justify sale price to the court.
  3. If the business is being passed to a family member, the appraisal protects everyone from future disputes.

Step 5: Pay Off Debts and File Final Taxes

What This Means:
Before any money or property can be handed out, the estate (including the business) has to settle its debts.

Action Steps:

  1. Send notice to creditors (the court can help you with this).
  2. Pay off any business-related bills, loans, or taxes.
  3. File final tax returns:
    • Personal income tax
    • Business tax (if separate)
    • Estate tax (if required—rare unless the estate is very large)

Tip: Keep track of every payment and keep receipts. You may need to show the court a full accounting.

Step 6: Distribute or Transfer the Business

What This Means:
Once everything is paid and approved by the court, the business can be sold, closed, or transferred to an heir.

Options:

  • Sell the business and divide the proceeds.
  • Transfer ownership to a family member or business partner.
  • Close the business and distribute remaining assets.

Action Steps:

  1. Follow instructions in the will, if there is one.
  2. If there’s no will, Georgia law decides who inherits the business.
  3. File any ownership changes with the Secretary of State if it’s an LLC or corporation.
  4. Work with an accountant to wrap up final filings and tax forms.

Tip: If you’re unsure whether to sell or transfer the business, talk with any heirs involved and consider getting a business valuation first. This helps avoid disagreements later.

Step 7: Close the Estate and Wrap It Up

What This Means:
Once all debts are paid, taxes are filed, and the business is fully handled, you’re almost done.

Action Steps:

  1. Submit a final accounting to the court.
  2. Ask for approval to officially close the estate.
  3. Keep copies of all paperwork in case issues come up later.

Tip: Make a final checklist of everything you’ve done. It helps if the court or an heir ever has questions down the line.

FAQs About Probating A Business

Here are questions people ask us when trying to figure out how to probate a business in Georgia. 

Can I run the business during probate?

Only if you’ve been officially appointed by the court.

Once you have your Letters, you can manage the business temporarily.

What if the business has no value?

You may still need to close it properly and notify the state to avoid future tax or filing issues.

Do I have to pay business debts with my own money?

No. Debts should be paid from the estate or business assets—not from your personal funds.

What happens if there are co-owners?

You’ll need to check the operating agreement or partnership documents.

Some allow the surviving owner to buy out the deceased’s share.

🎯 Get Answers. Get Clarity. Get It Done Right.

Dealing with probate and trying to probate a business on your own?

You don’t have to guess—or risk doing it wrong.

Book a free consultation with our Georgia probate team.

We’ll review your situation, explain exactly what needs to happen, and give you a clear plan—no pressure, no confusion.

👉 Fill out the form below to schedule your free call now.

Let’s take the weight off your shoulders.

Ready to Secure Your Family’s Future?

Avoid the delays, expenses, and public exposure of probate.

Schedule your free, no-pressure Estate Planning Roadmap Call today.

Schedule Your Free Strategy Call

"*" indicates required fields

Name*

What Areas We Serve For Probate

Our Georgia probate lawyers work remotely, so you don’t have to visit an office. Here are all the counties we serve in Georgia.