My dad signed over his S-corporation (a small tow company) to me before he passed away. My half sister ( his step-daughter) has never worked for my dad's co, and she & our estate attorney found a potential loophole that my dad didn't transfer the shares/ no share certificate. I don't think he even knew he had shares. I asked Sunbiz (FL official business registration) and they didn't seem to know what I was talking about. He had no stock certificate. I don't think he knew that part since he had just recently Incorporated. I'm having trouble getting answers. Can you help? If he signed the business to me, do I automatically own it all? Or were there extra steps he was supposed to take? I've been filing taxes and conducting everything with no issues other than her demanding her share. And if I do need a share certificate, how do I get it official. I'm am my dad's PR for his estate.
In order for you to receive a fully informed opinion, you'll need to show an attorney the document(s) your father signed transferring the company to you. Shares of stock evidence ownership, so if he did not issue or transfer the stock to you, it raises the question of whether he properly transferred ownership of his company to you. Did you father have a Will? Did it mention his company? Since you are the PR, start by seeking the advice of your probate attorney.
Answers to questions on this site are not intended to be specific legal advice nor create an attorney-client relationship. Hiring an attorney is a very important process which requires a high degree of diligence as well as entering into an agreement regarding the services to be provided and the fees to be charged.
I couldn't agree with my colleague. An attorney would need to review how your father signed over his business and the status of ownership of the stocks/shares. Unfortunately this will require a thorough review to see who's on first. Best of Luck!
This is not a probate issue at this time. You should be reviewing this with a business lawyer. I will change the category. If the transaction is not complete, then it is a probate issue. Many forms of businesses in Fl do not require "certificates" or "shares"
My comments are not intended to establish an attorney-client relationship, are not confidential, and are not intended to constitute legal advice. Proper legal advice can only be given by an attorney who agrees to represent you, who reviews the facts of your specific case, who does not have a conflict of interest preventing the representation, and who is licensed as an attorney in the state where the law applies.
Your case will be determined by what you mean by "signed over." You should have an experienced business lawyer in your area review all of the documents involved. Your lawyer can advise you on the steps you can take to protect your interest.
Disclaimer: This answer is provided for informational purposes only, does not constitute legal advice, and does not create an attorney-client relationship. Actual legal advice can only be provided after completing a comprehensive consultation in which all of the relevant facts are discussed and reviewed.
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline