When a business owner dies, their interests often become part of a probate estate or are transferred to one or more trusts in order to continue the operations of the business. But sometimes the decedent’s business is distressed at the time of death and of questionable value to the estate or to the trust beneficiaries. Understandably, descendants are having a hard time dealing with these procedures when they are grieving and family disputes do not cease to arise. You can continue reading about this subject and the case study in the National Law Review.
In that case, executors or trustees, along with their beneficiaries, should understand what fiduciary standards apply to the use of estate or trust resources in connection with the continued management, operation and ownership of the business.
We can guide you throughout the entire process to make sure your business assets are being managed in good faith and in a manner that serves your interests as beneficiaries.