​My Girlfriends parents are taking her to a lawyer to sign her as the president for her dad’s small company? Why? What’s the risk?

Hello,

My girlfriend’s (F22) parents just told her today that they are going to be taking her to a Lawyer to get her signed over as the president. I am worried.

Backstory.

My girlfriend is 22 and still college.

Her parents are not amazing with money or doing there taxes they have been late in the past and I believe and while back 7+ years, they owed the government lots of money she doesn’t know the exact amount (it’s fully paid now). They also lie all the time to my girlfriend about anything. She asked how does this affect her? What will happen to her taxes? Why?

They said, it’s doesn’t affect her or her taxes. They also said because they don’t want everything to be in their names. Sounds weird to me.

My concern is what is risk?

Can they start opening credit cards in her name? Does their income get claimed on her taxes? What are some negative implications?

edit: We are Canadian, the business is for general contracting, my gf is in school not for that so she has nothing and will have nothing to do with it.

Edit 2: company is a LTD or INC I’m not sure.