What is the name of your state? Ohio
I am in the process of setting up an on-line wholesale/retail website which sells craft supplies and educational classes to both retail businesses and consumers.
It is a family business with a unique situation. There are two adults that are disabled due to chronic illnesses (not mentally disabled) in the family. We want to set up this business so that if anything happens to the rest of the family, the disabled members could still receive the profits from the business and the business could still remain viable.
I am trying to figure out the best way to set up this business. After reading a little bit about a Business Trust it seems to me that it makes sense to start there. I was also wondering if a Business Trust is formed, is it then best to form a corporation or a LLC for the actual internet business?
I appreciate any recommendations and help with this matter as to what is the best way to set this up.
I am in the process of setting up an on-line wholesale/retail website which sells craft supplies and educational classes to both retail businesses and consumers.
It is a family business with a unique situation. There are two adults that are disabled due to chronic illnesses (not mentally disabled) in the family. We want to set up this business so that if anything happens to the rest of the family, the disabled members could still receive the profits from the business and the business could still remain viable.
I am trying to figure out the best way to set up this business. After reading a little bit about a Business Trust it seems to me that it makes sense to start there. I was also wondering if a Business Trust is formed, is it then best to form a corporation or a LLC for the actual internet business?
I appreciate any recommendations and help with this matter as to what is the best way to set this up.