Legal Question in Wills and Trusts in Colorado

Transfer of Corporate shares when there not specifically designated in the Will

My grandfather passed away several months ago and he did leave a will. He and my mother have an S-Corp, where he was 60% owner, and she was 40% owner. They were the only owners listed in the articles of incorporation. He did not mention the corporation in the Will. Who gets these shares of the corporation? They were the only two owners, and he did leave everything else to my mother in his Will. Is his wife entitled to any of it? His wife has never had any involvement in it, and there are assets in the name of the corporation.


Asked on 3/14/04, 3:36 pm

1 Answer from Attorneys
Bernard Greenberg KOKISH & GOLDMANIS, P.C.

Re: Transfer of Corporate shares when there not specifically designated in the

If there is a residue clause in the Will, then the shares would pass pursuant to that clause. If there is no residue clause, then the balance of the Will will require close examination to determine if the shares pass via the Will or via intestacy.

The interested persons should immediately hire their own attorneys experienced in trust and estate matters to assist in resolving this matter.

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Answered on 3/15/04, 9:24 am


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