Should I take over part of my boss’s business?

I’ve been a web developer at a local web design firm for two years. Our small team of five has faced financial ups and downs. On June 1st, my boss announced he couldn’t make the rent payment and proposed a company restructure to cut costs, including shifting to remote work, selling parts of the business, and giving me increased ownership of website development. This change prompted our other developer and intern to leave, leaving me as the sole developer, with plans to hire another.

Despite my initial shock, I agreed to the new role provided my salary covers my living expenses and the company remains profitable. My boss, who I have a close relationship with, reassured me with a promised salary, mentorship for my new responsibilities, and a severance package with job placement help if the plan fails.

Given his impulsive nature and mixed track record, I’m cautious but prepared, having applied for other jobs as a backup.

Should I trust this restructure, or prepare for it to potentially fail?
Should I take over part of my boss’s business?
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