Detailed Answer

When someone dies in Georgia, all assets they owned in their individual name pass into their probate estate. Assets titled to a corporation remain corporate property. To distinguish between the two, follow these steps under Georgia law.

1. Review Title and Ownership Documents

• Estate assets carry the decedent’s name alone. Look for deeds, titles, and bank accounts listing only the deceased person.
• Corporate assets bear the company’s name, its Employer Identification Number (EIN), and often the corporate seal or letterhead.
• See O.C.G.A. § 53-2-10 on filing an inventory for estate assets: § 53-2-10.

2. Examine Corporate Records

• Request the corporate bylaws, minutes, shareholder ledgers, and asset ledgers from the registered agent.
• Corporate financial statements, tax returns, and bank statements should list all corporate-held property.
• Consult O.C.G.A. § 14-2-202 for corporate record-keeping requirements: § 14-2-202.

3. Compare Probate Filings with Corporate Filings

• The executor (personal representative) of the estate files an inventory and appraisement in probate court listing assets that belonged to the decedent in their individual capacity.
• Georgia law requires this under O.C.G.A. § 53-2-10. Any asset not listed here but reflected on corporate records likely belongs to the company.

4. Investigate the Corporate Veil

• In certain cases, a court may “pierce the corporate veil” if a corporation is merely an alter ego of the decedent or a relative, mixing personal and corporate finances.
• Courts look for unity of interest and injustice if the veil remains intact.
• Although veil piercing is a judicial doctrine, see general principles in O.C.G.A. § 14-2-202.

5. Seek Professional Verification

• Hire a probate attorney or forensic accountant to trace funds.
• They can audit transactions showing transfers between the decedent and the corporation.

Helpful Hints

• Always start by pulling certified copies of deeds, titles, and vehicle registrations from the county recorder’s office.
• Request a corporate records package from the Georgia Secretary of State’s website to verify registered assets.
• Compare dates: assets acquired after death cannot be estate property unless transferred in violation of fiduciary duty.
• Look for personal guarantees or promissory notes where the decedent may have backed corporate debts.
• Maintain clear, organized records—this simplifies the inventory required in probate court.
• Remember: mixing personal and corporate funds can expose corporate assets to estate claims if courts find commingling.