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Originally Posted by pornguy
My wife is 50% of the business, so she knows my passwords, and how to run things. I have a life insurance policy, and she will take the cash. I am working on getting a second one, that way she gets paid more.
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If your wife is asian like mine is, (or any other non-caucasian) then you'd be better off giving her 51%. We set up our LLC with my wife as 51% owner. She's a woman and a minority. It's great for getting money from banks and I think we get a tax break as well (but I'll have to double check with my CPA)