Legal Question in Wills and Trusts in Florida

If a shareholder in a Florida S-corp dies, can the remaining shareholders vote shares or does if have to go through probate even if no will and if more liability than asset in corp.?


Asked on 7/30/12, 11:35 am

2 Answers from Attorneys
Richard Kaplan

If it is a probateable asset (and it appears to be), then it needs to go through probate.

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Answered on 7/30/12, 11:44 am
Sanford M. Martin Sanford M. Martin, P.A.

If the remaining shareholders have a quorum and it doesn't violate a shareholders'

agreement, the remaining shareholders may vote to conduct corporate business. If

the value of the deceased's share is negative, as implied, the benefit of probate would

be doubtful if there are no other estate assets.

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Answered on 7/30/12, 12:30 pm


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