Assignment task: Latifah Delightful Cosmetics Ltd ("LDC") was incorporated in 2010 by Ms. Latifah Delightful to own and run a wholesale cosmetics business. Ms Delightful had established the business as a sole trader in 2002, and sold the business to LDC on incorporation in exchange for 85,000 fully paid ordinary shares in LDC. LDC has one other member, Mr Johnny Blackstone; Ms. Delightful's former husband. Mr. Blackstone owns 15,000 fully paid ordinary shares in LDC. Ms. Delightful and Mr Blackstone are no longer on speaking terms, having fallen out after their relationship broke down six months ago. Ms. Delightful wants to bring in her daughter Odainty and her step son Bariny(Mr. Blackstone's son) into the business, but does not want to discriminate in an open manner in favour of Odainty. Bariny is a natural entrepreneur, deal maker and astute manager and will add tremendous value to the business. Odainty is a carefree 'Big girl' but as they say, 'Blood is thicker than water.' She would like to provide for succession to the business on her demise.
How should Ms Delightful restructure the business do to deal with the issue of succession in order to secure her welfare & financial security, maximize business opportunity in her lifetime & to ensure a sustainable legacy after her demise?