Does a company need my mother's death certificate before we can take over her position? 20 Answers as of July 29, 2013

We are trustees for my mother's estate. She is the chief executive officer of her company.

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Law Office of Thomas C. Phipps | Thomas C Phipps
You should give them a certified copy of her death certificate. I'm not sure you will be able to take over her position. That is not usually something that is inherited.
Answer Applies to: Missouri
Replied: 7/29/2013
Law Office Of Victor Waid
Law Office Of Victor Waid | Victor Waid
Obtain yourself a probate lawyer to assist you before you make any mistakes re transfer of assets, or cause yourself a tax p[roblem.
Answer Applies to: California
Replied: 7/24/2013
Law Office of Pamela Braynon | Pamela Y. Braynon
It wouldn't hurt. The officers would determine who would become the next CEO though.
Answer Applies to: Florida
Replied: 7/24/2013
Law Offices of George H. Shers | George H. Shers
The terms you are using are confused. Trustees are the people who run a Trust and if the property is in a Trust it is not part of the deceased's estate as the Trust is the owner of the property. The executor is initially in charge of the estate until an administrator is appointed by the court. You need to speak to a business attorney who knows something about probate as your question involves a complicated legal issue and you need to make the change over properly.
Answer Applies to: California
Replied: 7/23/2013
Law Office of Nathan Wagner
Law Office of Nathan Wagner | Nathan J. Wagner
Under most circumstances, a corporate office like chief executive officer cannot be inherited. If your mother's company is a corporation, you might inherit her stock in the corporation. The stock usually gives you voting rights, so from time to time you can vote for the corporation's board of directors. Those directors appoint the chief executive officer.
Answer Applies to: California
Replied: 7/23/2013
    Danville Law Group | Scott Jordan
    Is there a dispute of your mother's death? Generally, you will need about 15 certified copies of death certificates to administer her estate properly. Also, usually the trustee or heir to an estate will not assume the decedent's position in a company, unless the company is a small company. The shareholder's will need to elect the next CEO.
    Answer Applies to: California
    Replied: 7/23/2013
    The Taylor Law Office L.L.C.
    The Taylor Law Office L.L.C. | Ian A. Taylor
    If I understand this correctly, the ability of the trustee to take over a company will be governed by the companies operating agreement or bylaws. That power will be highly dependant on the entity of the company. For example, a corporation may have a buy sell agreement or some other procedure in place to have your mother succeeded as CEO which may require board approval. Depends highly o the structure of the company, board management, and procedures for succession in place. May even depend on what interest the trustee has in the company either before and/or after her death. Seek the advice of an attorney in trusts, estates or business.
    Answer Applies to: South Carolina
    Replied: 7/24/2013
    Frederick & Frederick PLC | James P Frederick
    It is possible. It is also possible that there needs to be a probate estate. It depends on how the stock is held. If it is in the trust, then a death certificate should be sufficient. If the stock was in her name alone, it would need to go through probate.
    Answer Applies to: Michigan
    Replied: 7/24/2013
    Law Office of Edward M. Burgh, APC | Edward M. Burgh
    You need a death certificate. Did she include the business in her estate? The Board can probably appoint a new CEO.
    Answer Applies to: California
    Replied: 7/23/2013
    James Law Group
    James Law Group | Christine James
    Yes, the death certificate, the succession plan, and a vote and minutes are necessary for someone to replace your mother as CEO of the company.
    Answer Applies to: California
    Replied: 7/23/2013
    Goldsmith & Guymon
    Goldsmith & Guymon | Dara Goldsmith
    You seen to be confusing semantics. Are you trustee of her trust or executor of her estate? Is the stock in the company a trust asset or estate asset? You need to determine that first. Yu should probably speak with counsel to guide you through the issues. You will need to have tehm review the corporate documents, as well to determine what occurs upon death. Best of luck. It is not a simple process.
    Answer Applies to: Nevada
    Replied: 7/24/2013
    Neal M. Rimer, Esquire
    Neal M. Rimer, Esquire | Neal M. Rimer
    There are two issues here. The first is having control of the shares of stock. If the shares of stock were titled in your mother's name, as trustee of her trust, then getting a change of ownership to the new trustee's must be done. If the shares were not owned by the trustee, then you might need to initiate a probate proceeding to get those shares transferred to the new trustees. The 2nd issue is involving the operation of the corporation. It is the shareholders who elect the board of directors of a corporation. It is the Board of Directors who elect the officers. One of the officers of a corporation is the President or CEO. You need to retain an attorney to review the facts and ownership interests to assist you in moving forward with the business.
    Answer Applies to: California
    Replied: 7/23/2013
    Kokish & Goldmanis, P.C.
    Kokish & Goldmanis, P.C. | Bernard H. Greenberg
    Death Certificates are commonly requested as proof that a certain person has died.
    Answer Applies to: Colorado
    Replied: 7/23/2013
    Gates' Law, PLLC | Thomas E. Gates
    You are mixing several issues here. There are no Trustee's for an estate, the individual person is a Personal Representative. If your mother was an Executive Officer, was the company a Limited Liability Company? If so, there will be an Operating Agreement to define how to transfer her units after her death. If there are other members of the LLC, they decide on whether you are given voting rights. Taking over her position is not automatic, see the Operating Agreement concerning managed manager.
    Answer Applies to: Washington
    Replied: 7/23/2013
    Charles M. Schiff, Attorney at Law
    Charles M. Schiff, Attorney at Law | Charles M. Schiff
    The company may well have some form of "succession planning" that would preclude your mother's legal representative from stepping into her position with the company. As trustee's you are entitled to be "bought out" but not necessarily entitled to take over as chief executive of the company. This is a corporate law question that may well depend upon how the company is set up and run.
    Answer Applies to: Minnesota
    Replied: 7/23/2013
    Strickland Law, PLLC
    Strickland Law, PLLC | Jeffrey S. Strickland
    It depends how everything is set-up. A trustee is over a trust, which may or may not continue after death. A probate estate would have a fiduciary as an executor/executrix, who would have been appointed through the court system. Many Tennessee courts require an attorney if a fiduciary is involved. If a trust, it might only require the trust document and a death certificate be presented in order to operate the company. However, the question provided very little specifics and cannot be completely answered with a simple yes or no. You likely need to seek legal assistance in order to proceed properly.
    Answer Applies to: Tennessee
    Replied: 7/23/2013
    Sebby Law Office
    Sebby Law Office | Jayne Sebby
    It is not uncommon for companies to want official confirmation of a death.
    Answer Applies to: Nebraska
    Replied: 7/23/2013
    The Law Office of David L. Leon
    The Law Office of David L. Leon | David L. Leon
    If she owns the stock, you'll need to transfer it pursuant to her will, and the you can elect a new CEO.
    Answer Applies to: Texas
    Replied: 7/23/2013
    Peters Law, PLLC
    Peters Law, PLLC | Mark T. Peters, Sr.
    Way too many issues to handle over the internet. You need an attorney to look over the paperwork for the company, what type it is, is there a board of directors, etc. You also need the attorney to look at the trust documents to determine what authority the trustees have. I imagine the death certificate will come into play somewhere in there but there are other questions that have to be answered first.
    Answer Applies to: Idaho
    Replied: 7/23/2013
    Reger Rizzo & Darnall LLP | Kathleen DeLacy
    There may be something in their articles to account when an officer dies. You would need to check those before assuming you, as Trustee, can act in her place.
    Answer Applies to: Delaware
    Replied: 7/23/2013
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