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Sons loans and assets vs My CH 7 Fla

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R

Robb212

Guest
What is the name of your state? What is the name of your state?
Florida:
I will be filing for Chapter 7 in Florida. My Son who still lives at home and goes to college started a lawn business. I had to put the business in the name of "Robb212 and Sons" to get a license and liability insurance. He was only 17 at the time.

I bought a trailer and a mower for the business. He later borrowed money from his grandfather for truck repairs and an additional mower. He does most all of the work. I help when he gets behind.

Question is: Would I have to declare the mowers as assets, and his loan as well, or would the stuff be his property not mine.

The mowers I bought for him have a value of 2500, the mower he bought has a value of 5000, with a loan to grandfather for 7500.
Because this is all under my roof am I responcible to declare all the mowers and the loan. What is the best way to set this up prior to filing Chapter 7 in Florida? Real Legal Advise Please.
 



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