How to Distinguish Deceased Person’s Estate Assets from a Relative’s Corporate Assets under New Hampshire Law

Detailed Answer

When someone dies in New Hampshire, you must identify assets that belong to the decedent’s estate and those owned by a separate corporation. New Hampshire law treats corporations as independent legal entities. To decide which assets belong to the estate, look at how each asset was titled at the time of death.

Probate Estate Assets
Under the New Hampshire probate code, the decedent’s “estate” includes all real and personal property owned in the decedent’s name at death. See RSA 551:1 (defining “estate”) and RSA 551:3 (requiring inventory). Assets titled solely in the decedent’s name or held in joint tenancy with rights of survivorship generally pass through probate.

Corporate Assets
By contrast, assets held by a corporation remain corporate property. New Hampshire’s Business Corporation Act defines a corporation as a separate legal person. See RSA 293-A:1-101 (definitions) and RSA 293-A:9-102 (separate corporate existence). Even if a relative controls the corporation or holds all the shares, the corporation’s assets do not automatically form part of the decedent’s estate.

Practical Steps to Differentiate
1. Review title documents: Check deeds, vehicle titles, and account registrations.
2. Examine corporate records: Request articles of incorporation, bylaws, and shareholder registers from the NH Secretary of State.
3. Inspect share certificates: Shares represent ownership in the corporation, not direct title to corporate assets.
4. Check tax returns and bank statements: Corporate accounts use an EIN, not an SSN.
5. Consult the probate court: File a petition for probate and submit an inventory for court approval.

Piercing the Corporate Veil
In limited circumstances, a probate court may disregard the corporate form if a relative used the corporation to hide assets at death. This “piercing the corporate veil” remedy requires showing the corporation acted as an alter ego of the decedent and that injustice would result otherwise.

Helpful Hints

• Obtain certified copies of the decedent’s death certificate and will.
• Search land records by grantor name at the county registry.
• Check the NH Secretary of State’s online database for corporate filings.
• Organize documents by title evidence: deed vs. share certificate.
• Keep detailed notes of asset reviews and communications.