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Ask a Lawyer -- Corporations
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Question: How do I go about dissolving my father's corporation after his death? He was a medical practitioner in California and the sole shareholder of his corporation. No family members were a part of his business, so we do not have authority as directors or shareholders. Are there any penalties to his estate for not filing a dissolution? Submitted by: Iris, California 08/05/2009. Response: The stock of the corporation is now owned your father's estate (assuming the stock certificates did not contain a transfer on death designation). Obviously, the estate cannot continue your father's medical practice but it can wind up the corporation. If your father's estate is being probated, I would think the personal representative appointed by the court has standing to sign the necessary document to be filed with the California Secretary of State's office. Contact the the corporate division of the California Secretary of State's office to see who signs the necessary dissolution forms under these circumstances. Here are the instructions for dissolving a corporation from the California Secretary of State's office. Note: It used to be part of the process of dissolving a California corporation to get a tax clearance letter from the CA Franchise Tax Board; however, it is my understanding that a tax clearance letter is not longer required. Posted By: JJR 08/06/2009. Add A Comment |
Ask a Lawyer, Corporations Archives
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