One of my employees died unexpectedly last month too. I am so sorry for your loss.

Boss died and didn't have a plan for the company, so her idiot kids damn near tore the thing apart while they sucked out every penny they could.

My husband took out an insurance policy payable to his employees so they can buy me out if they so choose. Otherwise they get 12 months salary while I figure out what to do with it. I'm in no way qualified to run the place and our kids are young / not interested.

In hindsight, I wish we had some kind of key man policy on him, but I'm not sure he would have been insurable. I think if we can get through the next few weeks that the other owner will be able to find another investor(s) but until then it will be touch and go. Thankfully the remaining owner, the general manager and I are on the same page. Monday will be ugly though.

It must be a huge shock to everyone at your place of employment as well as his family.

In fact, they live in the house next door. No one should have to bury their child. He was wealthy, primarily from a trust from his parents. One of his sons is a high school senior. One is still in college and the other is out on his own. I'm going to his house this afternoon. I did his books, so I'm helping them sort out his financial stuff.

Well, we got in enough money to cover payroll. Yay! But then the remaining boss called me and told me to pay the taxes due first. Fortunately I had already processed the payroll and told him so. He just said "Oh well". But now that I know that he's ready for the remaining employees to work for free so that he can avoid paying penalties and interest on taxes owed, I'm looking for a new job. I let the general manager know too. Payroll cones first, PERIOD.

that YOU know what he's up to. It's a sad situation but I feel bad about him keeping people in the dark and expecting not to pay them. UGH!

And frankly, all he would get is 2 weeks worth of free work and then the company would fold, because everyone will quit after the first missed payroll. But I'm going to tell him that I'm not consciously going to stiff people. If the company is to prevail, I need some kind of guarantee from the family of the deceased boss. I don't think I'll get it and I don't blame them. Sure they're wealthy, but why put more money into a dying company. So they can get pennies on the dollar?

key person insurance.

The other owner has key man insurance on himself to protect his other business, but they didn't get it on my boss. The business started about 18 months ago. I've only been there 6. Being the one who takes care of the books, I don't know why I didn't think to ask about it. But knowing the boss who died, he probably would have said it was a waste of money. He's one of those penny wise pound foolish guys. The memorial service is tomorrow. We're all just hoping none of his professional girlfriends show up.

employees are lucky to have you. It's a scary situation, but a lot of people are only a missed paycheck or two from financial ruin. I wish all of you the best.

Then I'll breath easy that it wasn't my brother.

Sounded just like him.

Down to who gets paid first.

What line of work are you in? Was your boss a doctor/lawyer?

to keep us afloat. Generally $30K or more per month. Too much out-go and not enough income.

Not income tax