What is the name of your state?Florida.
I find I'm being asked for advice where I'm not qualified, and hope someone here can help. There are two sisters, let’s say Judy and Cindy. Cindy is living in her invalided mother’s home. Judy is married and living abroad, and has guardianship over mother’s affairs. Both originated in city projects and had little formal education. Judy studied, became a secretary, and married well. Cindy did manual labor, most recently working for ‘Cruella’ for eight years in the latter’s ‘cottage industry’, let’s say manufacturing plastic artefacts of the type sold in tourist venues; let’s say plastic oranges and alligators. She did did this work for eight years.
Cruella ran afoul of the IRS, and had to shut down the business. This left a certain amount of equipment, which Cruella says she’s willing to give to Cindy, rather than dump it. Cindy wants to take advantage while the going’s good, and move the equipment to mother’s garage. There’s perhaps $4,000-worth of stuff, such as shelving, moulds, spray-guns, etc.
Judy wants Cindy to get some sort of notarised ‘quit-claim’ from Cruella before moving the equipment. Cindy is a bit intimidated, doesn’t want to look a gift-horse in the mouth, doesn’t want to insult Cruella, and feels this sort of stuff doesn’t merit notarised documents. “It’s not like real property, or a car with a title that has to be signed over!”
The only help I can give is to set up Cindy’s bookkeeping and go with her to whatever City, County, State, or Federal offices are involved to obtain whatever licences are needed. And I can set up accounting to make sure taxes are paid so as to avoid the fate that befell Cruella. What I cannot do is give advice on the potential for Cruella to make claims later on, such as demanding a percentage of revenue, under threat of accusing Cindy of stealing her equipment, which is what Judy fears.
Is there anyone out there who has any horror stories that resulted from similar situations, or is Judy worrying unnecessarily?
Thanks for any advice.
PVM.
I find I'm being asked for advice where I'm not qualified, and hope someone here can help. There are two sisters, let’s say Judy and Cindy. Cindy is living in her invalided mother’s home. Judy is married and living abroad, and has guardianship over mother’s affairs. Both originated in city projects and had little formal education. Judy studied, became a secretary, and married well. Cindy did manual labor, most recently working for ‘Cruella’ for eight years in the latter’s ‘cottage industry’, let’s say manufacturing plastic artefacts of the type sold in tourist venues; let’s say plastic oranges and alligators. She did did this work for eight years.
Cruella ran afoul of the IRS, and had to shut down the business. This left a certain amount of equipment, which Cruella says she’s willing to give to Cindy, rather than dump it. Cindy wants to take advantage while the going’s good, and move the equipment to mother’s garage. There’s perhaps $4,000-worth of stuff, such as shelving, moulds, spray-guns, etc.
Judy wants Cindy to get some sort of notarised ‘quit-claim’ from Cruella before moving the equipment. Cindy is a bit intimidated, doesn’t want to look a gift-horse in the mouth, doesn’t want to insult Cruella, and feels this sort of stuff doesn’t merit notarised documents. “It’s not like real property, or a car with a title that has to be signed over!”
The only help I can give is to set up Cindy’s bookkeeping and go with her to whatever City, County, State, or Federal offices are involved to obtain whatever licences are needed. And I can set up accounting to make sure taxes are paid so as to avoid the fate that befell Cruella. What I cannot do is give advice on the potential for Cruella to make claims later on, such as demanding a percentage of revenue, under threat of accusing Cindy of stealing her equipment, which is what Judy fears.
Is there anyone out there who has any horror stories that resulted from similar situations, or is Judy worrying unnecessarily?
Thanks for any advice.
PVM.