Almost like a death...but not quite

Miscellaneous and Personal Stuff I Must Share
1

I work with a woman with a long-time SO who is going to trial on criminal charges. He’s facing the possibility of 20 years in prison.

They are trying to prepare for the worst eventuality. She is involved in the personal finances. They have one joint account; she has a personal account & personal credit.

He also has personal credit and owns his own business, which she will be taking over should he be convicted.

What advice do you all have for her? What steps should she take – especially regarding taking over the business (a large, successful car rental franchise). She has been marginally involved in the business and is a very intelligent, capable woman, but her self-esteem and sense of hope have been damaged greatly.

You all are a collection of people who are also smart and capable and hopefully at least empathetic to what she must be going through right now.

She’ll be following this thread with interest and I hope we can give her some guidance.

VCNJ~

2

Hope for the best, prepare for the worst.
Have hubby do a dump of all the knowledge he can. Contacts, procedures, local business associates, who does what and what they do at the office, etc.
If’n she doesn’t have a head for numbers… an accountant would be critical.

3

They should have the business put into her name so that it becomes a minority business and then she should contact the SBA for help .