Corporate ownership transfer

[petryss]

What is the name of your state? Texas
How can I transfer corporation ownership to my wife?

 

[JETX]

"How can I transfer corporation ownership to my wife?"
You can't. You don't OWN the corporation.

If you are wanting to know how a corporation ownership changes, it is usually by a sale or transfer of stock.

 

[AmateurShyster]

As JETX suggests, the owners of a corporation are its shareholders. You change ownership by selling the shares.

If your purpose is to put assets out of the reach of your personal creditors, it probably won't work unless you and your wife are separated or divorced. This is called a "fraudulent transfer", but don't read too much into the word "fraud" here -- it's just a way of expressing the notion that a transfer that defeats the rights of creditors can be set aside for a certain period of time.

In any case, you should consult a tax professional -- either an attorney who specializes in taxation or a CPA. The transfer of shares can have tax consequences now. If the purpose of the transfer is to simplify adminstration of your estate, there can be tax consequences then, too.