How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask James Mather Your Own Question
James Mather
James Mather,
Category: Law
Satisfied Customers: 22629
Experience:  Senior Partner at Berkson Wallace
Type Your Law Question Here...
James Mather is online now

I own a ltd company that has some cash and ownership of a rental

This answer was rated:

I own a ltd company that has some cash and ownership of a rental property in Turkey. I want to make sure that if I were to die that ownership and access to both the cash and the property are available to my family if such a situation arose. What documents need to be in place to ensure this is the case ? Is it via co documents (articles of association etc) a will (in the UK or does it need to be in Turkey) or something else ?
Is this UK Ltd Co? Who owns the co shares?
Customer: replied 5 years ago.

It is a UK co yes and I own 70% and son owns the other 30%

If all assets and cash belong to the ltd co and you own the 70% of that co you simply need to make sure that the shares pass to whoever on your death and that someone who survives you is an authorised signatory on the company affairs.

That would sort it in English law, I assume that it would do the same in Turkey.

Can I help further?

Please bear with me today because I will be online and off-line.
Please don't forget to positively rate my answer service (even if it was not what you wanted to hear) and I will follow up any further points you raise for free.
If you don't rate it positively, then the site keep your deposit and I get 0 for my time. It is imperative that you give my answer a positive rating. It doesn’t give me “a pat on the head”, “good boy” (like ebay), it is my livelihood!
If in ratings you feel that you expected more or it only helped a little, please ask me for further info before rating me negatively otherwise I don't get paid at all for my time and answer.
The thread remains open.
Thank you.

Customer: replied 5 years ago.

Thanks - so to my question is this done via a will or articles of association (or other co legal document) ?

Not articles. They usually dont cover death. The shares
are left to whoever in an English will if an English co. Make sure they are
authorised signatory now to avoid lots of delays after death.

James Mather and 2 other Law Specialists are ready to help you