Starting a business

[JessiesGirl30]

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

I am on social security disability and cannot work. My husband is not disabled and not on disability. He would like to start a trucking company, purchase a belly dump and an end dump, and incorporate. He would get the work and drive, and maintain the trucks. We were thinking of putting the company in my name but were worried about the disability issue.

I would have nothing to do with this company other than be married to the driver. I would be owner but he would do all the work and get paid for driving.

Are there any issues we should be aware of if we do this? My husband says yes, and I just don't know.

P.S. He has no reason not to have the company in his name. He was just thinking out loud and got me curious.

Thanks,
Kathy

 

[AlmostALawyer]

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

I am on social security disability and cannot work. My husband is not disabled and not on disability. He would like to start a trucking company, purchase a belly dump and an end dump, and incorporate. He would get the work and drive, and maintain the trucks. We were thinking of putting the company in my name but were worried about the disability issue.

I would have nothing to do with this company other than be married to the driver. I would be owner but he would do all the work and get paid for driving.

Are there any issues we should be aware of if we do this? My husband says yes, and I just don't know.

P.S. He has no reason not to have the company in his name. He was just thinking out loud and got me curious.

Thanks,
Kathy

Anytime someone starts up a business, they should consult an attorney and make sure that they have structured their company in a manner that limits their liability and minimizes their tax/costs. Thus, I agree with your husband.

On the disability issue, I don't know, can you revoke someone's Social Security Disability Insurance? Is there an investigation? Or is it a hearing of some sort? What is considered gainful employment, because one must show the inability to get gainful employment in order to get SSDI? These would all be good questions for your attorney before starting the business.

Good Luck!

 

[JessiesGirl30]

I am aware that Soc Security can revoke my disability payments if I work, but I won't be working in any capacity in this business, including keeping the books. I simply am not able to function in that capacity anymore. I was just curious is if my name is on the Inc docs even though I won't be working, I'll be owner. Is that considered the same thing? I guess it could be, but if my name is just used with my permission won't the income generated by husband be to the company and not me?

 

[AlmostALawyer]

I am aware that Soc Security can revoke my disability payments if I work, but I won't be working in any capacity in this business, including keeping the books. I simply am not able to function in that capacity anymore. I was just curious is if my name is on the Inc docs even though I won't be working, I'll be owner. Is that considered the same thing? I guess it could be, but if my name is just used with my permission won't the income generated by husband be to the company and not me?

If there is that much concern, I suppose one option could be that everything is in your husband's name. My father has done that for years because my mother is a in a similar situation. However, I would advise seeing an attorney in your state to ensure everything is done properly and you're protected. A few hundred or even a thousand dollars now will save you from potentially losing much more in the future.