[WSBARP] Corporate assets and probate

[Mark Higgins]

Heather--this stuff is in my wheelhouse.  Please call me to discuss as I
don't want to write a whole bunch!

Mark  206-491-2420​

On Mon, Jan 12, 2015 at 8:20 AM, Heather Kolbly <heather at kolblylaw.com>
wrote:

> Hi All,
>
>
>
> I am handling a probate where there are corporate assets held by Decedent,
> and I could use some guidance on how to handle those in the probate of D’s
> estate.  I know corporate assets typically pass outside of probate, but my
> questions are:
>
>
>
> 1.       If the corporate formation documents are silent as to what
> happens when a shareholder dies, do the corporate assets held by D then
> simply pass to her beneficiary named in her Will (in this case, there is
> just 1 beneficiary – D’s son).  There are 3 corporations here (2 in WA and
> 1 in OR); in a WA one, D was sole owner/shareholder, in the other two (WA
> and OR) she was part owner with 2-4 other people.
>
>
>
> 2.       Whether the corporate formation documents do or don’t state a
> procedure for what happens to assets when a shareholder dies, do those
> assets still get reported to the court in the probate process?
>
>
>
> 3.       There is an ancillary probate in OR in this case for other OR
> assets (real property), and the OR attorney handling that said that the OR
> corporation should pass through the WA probate.
>
>
>
> = I am confused.
>
>
>
> I appreciate any help you can offer!
>
>
>
> Heather Kolbly
>
>
>
>
>
> *Heather Tobin Kolbly*
>
> *Mobile Attorney *
>
> *KOLBLY LAW FIRM, P.C.*
>
> *Mail:*  704 228th Ave. NE #122, Sammamish, WA  98074
>
> *Office:*  (425) 522-4234 s *Cell:*  (425) 444-1888
>
> Heather at KolblyLaw.com
>
> www.KolblyLaw.com <http://www.kolblylaw.com/>
>
>
>
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-- 
Mark T. Higgins
Mark T. Higgins, P.C.
P.O. Box 57
Darrington, WA 98241
206-491-2420
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