The present invention is a method and system that enables reference processes that have access to a long running object to maintain the current access to this object while this object performs a re-initialization operation in order to refresh data contained in the object. The system of the invention comprises a long running object manager that controls the re-initialization process of an object registered with the object manager. In operation, a reference program establishes a connection to the long running for purposes of accessing information in the object. This connection to the object is noted in the object manager. At this point, during the connection of the reference to the long running object, there is an event to trigger a re-initialization of the long running object. The object manager notifies the object of the trigger and holds the references that are connected to this object. The object receives the re-initialization signal, performs the re-initialization and sends a reply to the object manager. At this point, the object manager allows the references for the long running object to continue access to the long running object.