Business Owner Death and Complex Estates
What happens to a corporation when a shareholder dies?
Short answer
Corporate shares are estate assets. They pass through probate or trust to heirs. The corporation itself continues to operate. The executor manages the shares, including voting rights, until they are transferred. Check the shareholder agreement — it may have right of first…
What this usually means
Corporate shares are estate assets. They pass through probate or trust to heirs. The corporation itself continues to operate. The executor manages the shares, including voting rights, until they are transferred. Check the shareholder agreement — it may have right of first refusal or buyout provisions triggered by death.
What to do next
- Start the PathAfter checklist for situation-aware first steps.
- Find California county help for coroner contacts, vital records, cost tools, and paperwork.
- Open the First 72 Hours Call Log before making calls.
- Open the Documents to Find Checklist when you are ready for paperwork.