Post-Death Administration of Real Property, Closely Held Business Interests and Special Assets

Real property, closely-held business interests and the evolving class of “special assets” often involve unique post-death administration issues. For example, statutory and common-law property laws governing real property may result in unintended ownership rights after death. In addition, the transfer of closely-held business interests down a family line challenge family members to address legal and operations concerns related to ownership and control of what is often the “bread winning” element of a family’s wealth. Lastly, ownership issues related to special assets (such as cryptocurrency and other digital assets) continue to emerge as decedents’ estates become the recipients of these assets. This presentation will explore the unique nature of each of these asset classes, the challenges related to the transfer of ownership of these assets at death, and best practices in administering these assets postdeath. Originally presented as part of the Post-Death Administration of Trusts & Estates.