Q: What happens to the business property if the company was admin dissolved three years prior to death?
My father died with a Will but did not specify what to do with business property. He stopped paying the annual corp fee in 2016. But, continued to pay business taxes until 2020 before he died using that corporation.
A: The state registration status--vel non--has nothing to do with your question about how to dispose of (undescribed) "business property." No does it have anything to do with the annual IRS business tax return.
It is not possible for any lawyer to advise you properly without knowing much more about this common situation. Search for an experienced small business lawyer here on AVVO.
A: Assuming your father was the only owner of the company, after dissolution he became a trustee of the property of the dissolved corporation and if there were no creditors owed anything, the business property would become part of his estate and transferred to his heirs in accordance with his will. I suggest you contact a probate attorney.
Terrence H Thorgaard agrees with this answer
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