i have prop. firm,,due to my ill health i want to transfer my business with its assets and liabilities to my son , how to do it? the problem is that i as prop of the firm had filed cases of recovery of my debts in delhi high court, now if the owner of prop. ie me changes, does the legal identity of the business changes ,other suggestions i had was gift the firm to my wife or forma pvt ltd with her a director,, will it create a problem legally in courts ,,,please guide