Legal Question in Wills and Trusts in Florida
Father's will
My father owned a business of which he owned 50 shares would this fall under joint tenancy also? Or would he have to leave the business and/or shares to someone in a will?
Asked on 7/07/08, 11:17 pm
2 Answers from Attorneys
Alan Wagner
Wagner, McLaughlin & Whittemore P.A.
Re: Father's will
The stock will be an asset of the estate and will be handled in accordance with the will after all debts are paid.
Answered on 7/08/08, 8:12 am
Alicia Santana Torres
Santana Torres Law Offices, PL
Re: Father's will
It depends on how the shares are titled. There could be a joint tenancy, but that is rather unusual. There could also be something in the business' corporate documents that dictates what happens to shares when a shareholder dies. You should ask the attorney and see what he says, then ask to see any relevant documents -- the shares, corporate documents, real property titles, and the will, of course.
Answered on 7/08/08, 12:05 am
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