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Could I make my children partners in my business?

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Comments

  • John_Pierpoint
    John_Pierpoint Posts: 8,401 Forumite
    Part of the Furniture 1,000 Posts
    Now if it was their grandfather's business......................
  • Cook_County
    Cook_County Posts: 3,092 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    The OP talks about partnership. This appears to be a parental settlement so tax ineffective.

    I have signifcant concerns about the partnership concept since it is one of joint & several liability. Would it truly be kind to give the kids a share of the debts?
  • rich11
    rich11 Posts: 184 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Interesting replies.Thanks to everyone that contributed
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