S
Serenity1
Guest
Hi - I am new to this..
My partner and I decided to expand his manufacturing business by opening a showrooms and expanding into sales in Jan of this year. He got a loan in his name only and we set up business. I left my job in marketing to run this shop. Since then he has bought out another company. At present I run the original showrooms on my own and he runs the other business. I presently work 6 days a week trying to build this business. I get paid a weekly wage for this. Also what I make in this shop covers all overheads associated with it including the loan.
My question is this - we are not married at present and he has no will so if anything were to happen to him what would happen to the business? He has a 6 yr old son - would it pass in trust to the mother of his son? They were never married and had a very brief affair that resulted in his child.
His business would consist of the original manufacturing business plus 2 showrooms/shops. All suggestions welcome!
My partner and I decided to expand his manufacturing business by opening a showrooms and expanding into sales in Jan of this year. He got a loan in his name only and we set up business. I left my job in marketing to run this shop. Since then he has bought out another company. At present I run the original showrooms on my own and he runs the other business. I presently work 6 days a week trying to build this business. I get paid a weekly wage for this. Also what I make in this shop covers all overheads associated with it including the loan.
My question is this - we are not married at present and he has no will so if anything were to happen to him what would happen to the business? He has a 6 yr old son - would it pass in trust to the mother of his son? They were never married and had a very brief affair that resulted in his child.
His business would consist of the original manufacturing business plus 2 showrooms/shops. All suggestions welcome!