How do you transfer ownership of a corporation to the spouse of the deceased owner?
Question Details:My husband had a real estate corporation (consisting of one commercial building) and was the president and only employee. He died in January. Do I need a lawyer or an accountant or both to transfer the corporation to me so that I will own the shares of stock and take over as president? I just got the will probated. I have been paying bills through an "estate of" account. I would like to go back to the original name of the corporation and set up a checking account in the corporate name. My accountant says he doesn't know anything about what to do and the lawyer handling the estate issue is of no help.
If your lawyer is of no help, you might want to find another lawyer. There are certainly enough of us to chose from.
Your husband's stock isn't that much different from a bank account, the estate needs to distribute it to you in your own name before you can do anything with the corporation, most likely. You'll want to talk to an attorney who has experience working with small businesses. The hardest part might be getting the corporate records up to date, particularly if your late husband wasn't careful about that.
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