I have a sister that is developmentally disabled and basically unable to work. I’m trying to figure out how I could share some income with her instead of gifting her money.
Since she has no money, no credit, no assets and no job, I was wondering if i could …
Buy a MHP or any cash flow generator, buy it / finance it alone in an LLC with me personally guaranteeing it and then after the closing could I add her as a member of the LLC so that we own it equally? I don’t mind being the only one liable for the loan, I just don’t know if I could make her my “partner” so to speak with no considerations from her??
or
Could I just put the property into a trust and have her be a beneficiary?
Thanks!
Sandy