Incorporating with relative

What is the name of your state (only U.S. law)? NY

I am starting a small business up and my Father in Law wants me to attach to his Corporation. Should I have my own LLC ? My business prospects are looking very achievable.


Thanks.

celtics2 said:

What is the name of your state (only U.S. law)? NY

I am starting a small business up and my Father in Law wants me to attach to his Corporation. Should I have my own LLC ? My business prospects are looking very achievable.


Thanks.

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The answer would depend on what you are both looking for out of this union.

Antigone*of*Greece said:

The answer would depend on what you are both looking for out of this union.

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I could imagine future family problems intertwining with a set up like this. Their lawyers would draw up a contract. If I were to hurt someone's feeling I'd rather do it early in the game. I don't personally see any advantages from this. I was always self employed sole proprietorship. Now that I'm going to double my size and worth I'm worried about getting caught up in a legal morass. I seek protection from a LLC.