[WSBAPT] Question related to intestate administration / individual who owned a business

[Mark Vohr]

Sarah:

	We run into similar situations.  I would start with RCW 11.48.025.  If you have non-intervention powers, this provision may not apply, but it is good to know that it is there.

	The PR steps into the shoes of the decedent.  You are the PR's attorney.  You can provide legal advice to the PR within your scope of expertise.  If you are competent to provide legal advice on the dissolving a Delaware corporation (or willing to learn on your own time) - that’s the ethical part, then you can assist.  If not, then the estate should hire counsel who is competent to do so.  

	The business is an asset and get treated as any other asset.  It has to be protected and preserved for distribution.  Ultimately, either you liquidate and distribute the proceeds or you transfer to the business to the beneficiaries and they do what they want with it.  I would certainly check with the beneficiaries and see what they want.  In any event, RCW 11.48.025 gives the PR the authority to do what is needed to preserve the asset until the PR decides what to do with it.  

	Hope that helps.  

Mark



Ohana Fiduciary Corp.
Ohana Financial Services

Mark C. Vohr, J.D., CPG, Principal
PO Box 33710  Seattle, WA  98133
T:  (206) 782-1189 F:  (206) 782-1434
mcv at ohanafc.com      www.ohanafc.com



-----Original Message-----
From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Sarah Jael Dion
Sent: Thursday, January 12, 2017 1:46 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] Question related to intestate administration / individual who owned a business

Hi list mates-

I have a client who is about to be appointed Administrator of the estate of her husband, who was killed while abroad late last year. The decedent owned (by himself) a company he incorporated in Delaware. The decedent ran a local franchise business in the name of his company. The surviving spouse and her family do not want to continue operation of this company (not sure if it is an LLC or corp yet). The numbers in this case aren’t huge- no massive assets or debt on the part of the decedent individually or on the part of the business. The surviving spouse is of course hoping to have all this handled as efficiently as possible. 

How do I proceed here? Does the Delaware business need its own attorney to handle the shut-down, or is this something I am ethically able to assist with? Decedent had no will and no succession plan for the business. I’m a little lost as to the proper manner of shutting down the business in these circumstances.

Can anyone offer advice? Thanks in advance!

Sarah Jael Dion

Dion Law PLLC					
206-550-4005
sarah at dionlaw.com
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