Maryland | Construction Law
Legal Question
Maryland Home improvement
My father started a home improvement business in 1979 in the state of Md. the license reads his name and /son since he is retiring can these license be transfered over to me, I have worked with him since 1981. Another contractor same senerio tranfered his license to his son. but was this legal.
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Legal Answer
Re: Maryland Home improvement
You or someone within the organization will need to carry the required license to carry out the business activity. It appears that business formation and registration may be an option to address impending needs. The decision will need to be made at the business level and numerous options and factors apply. Otherwise, your father may be in need of estate planning assistance. Contact me today for legal advice.
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Law Offices of G. Joseph Holthaus 2255 Daniels Road Ellicott City, MD 21043
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Legal Answer
Re: Maryland Home improvement
I can not give you legal advise, as I do not know enough about your circumstances - however, if I assuming your father is a sole proprietorship, I offer the following as a possible option (speak with an accountant/CPA and/or an atty).
A suggestion... Form a 'partnership' with your father. Change tax returns, isurance policies, titles to equipment, loans, EVERYTHING! Do this ASAP, wait for a while, then "buy-out your father after everything is in place and running smoothly. After you 'buy-out' your father (it can be for a buck), remove your father from everything. I'd do it over an 18 month period.
Good luck.
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Kevin J. Begley - Attorney at Law 3010 Bordentown Avenue Parlin, NJ 08859
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