Saturday, December 17, 2011

Can a child inherit a majority stake in a corporation? Would they have to wait until they're not a minor?

Okay, I understand that the CEO is elected by the board. But if the majority shareholder in the company dies, and he/she leaves their shares to a minor, would that child have to turn 18 before taking control? Or 21? I'm curious how trusts work in this situation. What has to happen for an 'heir apparent' to come of age and potentially take the reins. Thank you, in advance, for your help.

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