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Category: Business Entities and Transactions

About Dissolving a Corporation After Death

September 27, 2021 Business Entities and Transactions

The first thing to understand about corporations is that they are separate legal entities, apart from their shareholders, who are the owners. Because of this, corporations have “perpetual existence.” A corporation’s existence goes on after a shareholder, even a majority shareholder, dies or otherwise leaves the company.  If your corporation…

What Happens to S Corporation Stock Upon the Shareholder’s Death?

February 9, 2021 Business Entities and Transactions

S corporation stock, whether owned individually or by a trust, merits special attention upon death. Congress presumably did not want a shareholder’s death to terminate an S election, so an estate of a deceased S corporation shareholder is a permitted shareholder during the period of administration. If the executor transfers…

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