Legal Question in Business Law in Georgia
Grandparents giving Shares as a gift from family Business
My Grandparents want to transfer all of their shares to one person in the family. Can this be done in a business meeting and is this legal. There are 10,000 shares and each share is worth $1.00.
1 Answer from Attorneys
Re: Grandparents giving Shares as a gift from family Business
There is nothing illegal about transferring stock. And I'm not sure what you mean by "done in a business meeting." There will, however, probably be some tax consequences for the transfer. I would recommend speaking with an attorney and tax professional before transferring anything.
If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.
The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.
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