How to take over the management of a company if its sole owner has died?

22.03.2023 Dmitrijs Sustovs, head of the Litigation department of the Law

None of us will live forever and there comes a time when the sole owner of the company dies. So that the further work of the company would not be paralyzed, the heirs, simultaneously with the opening of the inheritance case, can ask the notary to establish trusteeship over the estate.

The fact is that from the moment the inheritance is opened until the heirs are approved in inheritance rights, several months pass, during which it is necessary to manage the company, participate in meetings of participants, make decisions, and this can be done on behalf of the deceased owner only by a trustee appointed in accordance with the procedure established by law over the estate.

The procedure for appointing trustees consists of two stages:

first, the notary establishes trusteeship over the inheritance in general, and then the Orphan’s court approves a specific trustee.

Candidates for trustees are selected by persons interested in the inheritance case (as a rule, by the heirs themselves) and, if they have the necessary characteristics and skills, they are approved by the Orphan’s court by its decision.

Law office Inlatplus, having many years of practical experience in resolving such disputes, is ready to provide legal services on any issues of inheritance law and represent the interests of the client in court.

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