[WSBARP] Duty Owed to Deceased's Entity?
Tom J. Westbrook
tjw at w3net.net
Thu Aug 20 13:42:46 PDT 2015
My only obtuse comment to Eric's correctly stated position is - make
sure the decedent wasn't a Director and somehow the company is looking
to the PR in the capacity as a Director. That's a long shot, but
something I would check out.
Sincerely,
Tom
Thomas J. Westbrook
Attorney at Law
Rodgers, Kee & Card
324 West Bay Drive NW, Suite 201
Olympia, Washington 98502
Phone: 360-352-8311
Facsimile: 360-352-8501
Email: tjw at buddbaylaw.com
Skype: thomas.westbrook
www.buddbaylaw.com
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From: wsbarp-bounces at lists.wsbarppt.com
[mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Eric Nelsen
Sent: Wednesday, August 19, 2015 8:28 AM
To: WSBA Real Property Listserv
Subject: Re: [WSBARP] Duty Owed to Deceased's Entity?
As shareholder, no; I think the caselaw is pretty clear that
shareholders don't have fiduciary duties to the company, merely by being
shareholders. However, in a closely held corporation, if the
CEO/President/Manager/Whatever has died and no one's running the place,
the Estate may need to vote shares to elect a new officer. But I don't
think even that rises to a "duty" under the law; except maybe PR's duty
to preserve/maintain assets during pendency of the Estate?
Sincerely,
Eric
Eric C. Nelsen
SAYRE LAW OFFICES, PLLC
1320 University St
Seattle WA 98101-2837
phone 206-625-0092
fax 206-625-9040
From: wsbarp-bounces at lists.wsbarppt.com [
mailto:wsbarp-bounces at lists.wsbarppt.com] On Behalf Of Samuel M. Meyler
Sent: Tuesday, August 18, 2015 9:40 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Duty Owed to Deceased's Entity?
Listmates,
Does the Estate and/or Personal Representative of a deceased major
shareholder of a corporation owe any fiduciary duties to the entity?
Samuel M. Meyler
Attorney at Law
Mail: P.O. Box 777 | Redmond, WA 98073-0777
Location: 8201 164th Ave. NE, Suite 200 | Redmond, WA 98052
Tel: 425.881.3680 | Fax: 425.881.1457 | Email: samuel at meylerlegal.com
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