What happens to Ltd company if sole director dies?

[Guffy]

I have previously used a DIY will as I don’t have any family or dependents to contest a will.

I’m now a sole director of a limited company (one man band) and I got married last year. She now has one ‘B’ class share of the company, but is not a director or employee and do not plan to change this.

Do I need to make any changes to my will, or does my ‘estate’ that I’m leaving to my wife from my existing will automatically include the shares of my Ltd company?

[HenryJM]

Shares are an asset, if you are leaving everything to your wife then that will include the shares.

[Guffy]

Thanks

[Eric Mc]

"Directors" aren't the same as "Shareholders".

A director CAN own shares and CAN leave those shares to whomsoever he pleases - whether the recipient is a director or not.

[blueg33]

I owuld assume that thereis a basix sherholders agreement/mem and arts that allows shareholders to appoint other directors?

As others have said a Director is not necessarily a shareholder and a shareholder is not necessarily a Director.

[ninja-lewis]

http://www.step.org/death-sole-director