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  • manolo replied to the topic Family Businesses in the forum Business 101 6 years, 7 months ago

    As aja38 & vcf3 have stated, a sole proprietorship cannot be passed on. If the father wants to give his business to his heirs then he would have to change the business to an LLP. From there the dad can “sell” his part of the company to his son in order to no longer have ties to the company.