Enforcing a contract is not done by writing it, it is done by taking the other party to court. Whether or not an income-sharing contract could be enforced is a legal question I am not qualified to answer, but I would be pessimistic. The contract might be nulled because it amounts to slavery, or the income-earner could declare bankruptcy, or so on.
Even assuming that you have the money for a lawyer, and the contract is enforceable, and you win a judgment, you’d find that winning a judgment is often a very different thing than collecting a judgment.
Isn’t that what contracts are for?
Enforcing a contract is not done by writing it, it is done by taking the other party to court. Whether or not an income-sharing contract could be enforced is a legal question I am not qualified to answer, but I would be pessimistic. The contract might be nulled because it amounts to slavery, or the income-earner could declare bankruptcy, or so on.
Even assuming that you have the money for a lawyer, and the contract is enforceable, and you win a judgment, you’d find that winning a judgment is often a very different thing than collecting a judgment.