Can someone explain how they have set up a syndicate for horse ownership? I am interested in doing this with show jumpers, but I imagine this is very much the same as with racing, which as I understand does this more often.
First you have to establish what the horses worth is, then decide what percent you are willing to sell, and divide into shares from there. You can set things up so that owners pay a flat fee every month to cover expenses, or divide those up evenly also. There should be an iron clad contract with a manager of the partnership making important decisions such as when and where the horse is to compete and when to sell. Too many voices in a partnership will lead to discontent somewhere along the line.
You should also look into tax write offs and the managing partner usually takes care of the forms at the end of the year.