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Opinions written by Col Stewart
intestacy
(Wednesday, 15 July 2009) Written by Col Stewart
Husband and wife hold shares in a Ltd Co, 99 to H and 1 to W.  The husband dies intestate leaving two sons of a former marriage.  The intestacy rules provide for half of the estate residue to go to the sons.  However, they want half of the assets of the company (its freehold and cash) but I think they are only entitled to ownership of half of the deceased's shares.  This leaves the wife as the majority shareholder.  Does anyone have any thoughts, or experience of this situation?

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