ESTATE PLANS VS STOCK TRANSFERS

November 24, 2020

Peter Mahler introduces his latest NY Business Divorce Blog as follows:

In this week’s New York Business Divorce, we discuss a recent decision serving as a reminder to corporate shareholders planning to bequeath their shares of stock to ensure no contracts prohibit them from doing so, lest they leave behind a very disappointed beneficiary.

The ruling applies equally to LLCs:  In drafting provisions about transfers of members’ membership rights—e.g., upon their death—LLC lawyers should ensure that these provisions are consistent with members’ estate plans.

The link to Peter’s column is as follows:

https://www.nybusinessdivorce.com/2020/11/articles/stock-transfer-restrictions/when-estate-plans-and-stock-transfer-restrictions-collide/

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