What is the name of your state (only U.S. law)?
We are in Hawaii, where my husband has a sole proprietorship small business. There are no employees.
My question is: If he should become disabled and/or unable to participate in his business, could I, as his wife, operate the business in his stead? Or, if he died, what would happen to his business if he leaves all assets to me? Would we need to form some sort of 'partnership' for me to take over the business?
Your advice is welcome.
Thanks!
We are in Hawaii, where my husband has a sole proprietorship small business. There are no employees.
My question is: If he should become disabled and/or unable to participate in his business, could I, as his wife, operate the business in his stead? Or, if he died, what would happen to his business if he leaves all assets to me? Would we need to form some sort of 'partnership' for me to take over the business?
Your advice is welcome.
Thanks!
