We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close
Focus On
NEW In-House Counsel | Insurance | Intellectual Property | Immigration | Natural Resources | Real Estate | Tax

Estate trustees must be proactive when overseeing a business

Wednesday, May 31, 2017 @ 9:10 AM | By Bryan Tannenbaum and Daniel Weisz

Knowing how to avoid failure is an essential element of business survival. This particularly rings true in estates where an estate holds the shares in an operating business where the deceased was the sole owner and essentially the “mind and management” of the company. As is characteristic with most entrepreneurs, much of the business knowledge that led to the success of a particular company remains with the entrepreneur and upon the entrepreneur’s death, gets buried with the deceased.

Depending on the capabilities of the estate trustee(s),...