Legal Question in Business Law in Georgia
How would my husband start the process of putting his mothers business into his name with NO loopholes!? She has agreed to sign it over to him but we do not want her to have ANY affiliation with the business what so ever.
Thanks Amy
3 Answers from Attorneys
Since your husband is in business he HAS to have two people available on retainer or he will fail in business. One is a CPA. One is a business lawyer. And he should know that what he needs to do is to pay his lawyer to draft appropriate documents. If his plan was to have his wife ask online, he is ill-equippped to run a business and should go to work for someone else and never operate a business. The use of a lawyer is so fundamental to the success or failure of a business that I cannot stress it strongly enough.
Get a lawyer. "NO loopholes" (whatever that means) tells us nothing about what you want to accomplish? We don't know the nature of the business, liabilities, potential liabilities, and a long list of other important details. It is safe to assume that it is not just signing a document and all is well.
It depends on many factors not listed - type of business entity, current documents in place, etc. Obtain a local business attorney to assess the situation and he/she should easily be able to draft the appropriate documents.
If you would like to discuss any issues further, please feel free to contact my office. The link to my contact information is below. Thank you.
The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.
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