Growing my business

Discussion in 'Legal and HR' started by NYChelp, Feb 1, 2020.

  1. NYChelp

    NYChelp
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    Currently have a successful small carpentry business (Incorp), but I am looking to grow my business. I am thinking of creating a subsidy of my carpentry business. This subsidy would do things do AV/ computer so my question is:

    1) Create a subsidy of my carpentry business as a C corp (not sure if that possible) and later transfer funds when I expand my business oversea.

    2) Create a new business as a Corp and put the business in a trust fund.( I'll explain more later why a trust fund).

    The reason why I am looking to start a trust fund is I am divorced and pay a lot in alimony as well as child support. I want to be sure my kids are left with enough money for college and things they will need when growing up.

    I am looking of course to do everything legit so hence I am looking for the business avenue to do this. TIA
     
  2. VITS USA

    VITS USA
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    Your goal is not clear completely, but in this situation, you should consult with a lawyer who can guide properly guide you regarding "terms and conditions" of trust which you want to open.
     

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