OK, so to the current activity on this 9 year old thread...
My wife and daughter had access to the EC business records, customer data base, payroll, checkbook, etc. for many years.
I laso was one who changed ownership to an LLC, based on info from my lawyer and accountant. The structure of the LLC would leave my wife &/or daughter as the principal member in my demise. Liquidation procedures were spelled out, along with approved procedure to complete any/all work that was 'in-progress', compliant to stste licensure regs.
As to the OP back 9+ years ago, I doubt he is around to read any of this.
Legal requirements for operation of any business varies from state to state, so I suggest contacting a local, trusted lawyer and accountant.