Shareholders

[kanwal3017]

My father bought a hotel business in USA many years ago. He had a 70% share in it. He gave the poa to someone in the USA to look after the business. My father has now passed away. This there is no poa anymore. As his son am I the 70% owner of the business now. The person who we gave the poa to is now contacting me asking me what can be done about the business 

[newmodarmy]

And? What are you wanting to ask us?

[naomi24]

As far as I can see he's asking if he's now the 70% owner of his deceased father's business in the US.  

 

I would say seek proper legal advice.  

[Old_Geezer]

They may be just curious. I take it that the power of attorney is ended on death so what happens to the estate would not be their responsibility. However your post suggests you aren't in the US so a trusted representative there may be useful.

[newmodarmy]

Thanks Naomi. But kanwal has already said he now owns 70%. 

So he needs to decide what to do. It depends whether he wants to retain or sell up.

[naomi24]

Maybe, but I thought he'd omitted a question mark.  He actually said 'am I the 70% owner of the business now'.

[newmodarmy]

Well spotted.

[newmodarmy]

Was this part of the  estate of £625000  you mentioned?

Assuming there were other parts of the estate, maybe a house, the hotel business can't be that big, but it's probably still worth paying a solicitor.