Entrepreneurship & Small Business

Should I make my wife a director? Shareholder?

  • Last Updated:
  • May 12th, 2018 12:52 pm
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[OP]
Newbie
Apr 1, 2016
33 posts

Should I make my wife a director? Shareholder?

Worried about what might happen if I die. My business is just an ecommerce site... I am mostly worried about ensuring she gets any cash in the corporate bank account if something horrible is too happen
2 replies
Member
Jun 25, 2011
306 posts
106 upvotes
Alberta
Make her a shareholder. Don't forget to include yourself as shareholder as well. Probably keep yourself as a majority shareholder for those unforseen reasons if you get a divorce from your wife and you will retain the control. If in future your company becomes profitable and highly valued and you decide to sell it then you both can take capital gain exemption and get the money up to a limit will be tax free. Being a director won't do much.

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