The best way to handle partners' shares in LLCs after death

Dear questioner,

In case any of the shareholders died, you should follow the following steps based on the federal corporation law in the UAE:

1- You should freeze the bank account for this shareholder;

2- Company profits must be distributed;

3- The company is never liquidated if the shareholder passed away;

4- The shares of the deceased are distributed to the deceased's legal heirs.

Please feel free to contact me directly via phone or email.

Thanks!

Dear client,

Thanks for your query!

I hope you are fine. In this situation, the shares of the company are distributed among the legal heirs provided they have proper documents from the personal status court.

For further information, you can write an email or call us on Whats-app. We have a good team of local Emirati lawyers to handle all kinds of cases. I am happy to help you. You can fix a personal meeting at our office.

Thanks and Regards!

ABDUL WAHIED

Dear questioner,

After the death of a partner, you have to take probate from the family status court so that the share of the deceased partner can be allocated to his/her heirs.

If need be, kindly contact us via phone for a detailed discussion or write us an email for further assistance.

If any partner dies, the process will be the same; all his shares will be transferred to his legal heirs for that you need to obtain an Estate court order.

The best option is to take POA in the name of one person by all legal heirs (mother, father, wife, and children) and transfer shares in his name, but some time court can refuse to transfer minor legal heirs shares to anyone.

A non-muslim partner has the right to make a Will for his shares and property and according to that shares will be transferred.

Feel free to contact me directly via phone or email for further consultation.