A contract governing what happens to business shares on a shareholder's death.
In Islamic law
Can override what a will says about the business, and therefore what the heirs actually receive.
In Canadian law
May compel the estate to sell shares to surviving shareholders at a set price.
No significant difference between the four Sunni schools is recorded on this point in the sources reviewed. Where a specific case turns on it, ask a qualified scholar rather than relying on a general summary.
Canadian legal detail
Treadstone Law, an Ontario firm with a wills and estates practice, covers the Canadian side of this in more depth:
- Henson trust after beneficiary dies ontario
- Alter ego joint partner trust ontario probate
- Naming a successor trustee in ontario
This is legal information only. For advice on your own circumstances, speak to a lawyer.
Citations & sources
Every factual claim on this page traces to one of the references below. Legislation and dollar thresholds change — verify against the primary source before relying on any figure.
- Canadian Legal Information Institute — CanLII
- T3 Trust Guide — Canada Revenue Agency
- Family trust income splitting ontario basics — Treadstone Law
- Trust distributes capital gains to beneficiaries tax — Treadstone Law
- What must a trust deed contain ontario — Treadstone Law
- Trustee role duties ontario estate — Treadstone Law
- Estate trustee compensation ontario — Treadstone Law
- Wills & estates practice — Treadstone Law