Legal Question in Business Law in Georgia

Re: corporations

As a preliminary matter - the shares and all of your son's assets are owned by your son's estate.

The estate can sell or convey the shares, and keep those funds available to satisfy any creditors, but the company cannot divest the shares.

Your question suggests various issues, and I would invite you to discuss these issues with me and my partners.

Best regards,

Roger

Re: corporations

Your son's shares would pass in accordance with the terms of the internal documents of the company - buy-sell, stock subscription agreement, etc. Typically, the shares are bought by the company or other shareholders and the proceeds to go the estate, which is subject to creditors.

You cannot legally simply transfer the shares in order to avoid the creditors.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.