![]() |
|
|||||||
| Business Contracts & Partnerships Oral and written contracts, corporate partnership, partnership agreements, transactions, disputes, litigation, etc. |
![]() |
|
|
|
|
Thread Tools | Search this Thread | Rate Thread | Display Modes |
|
|
#1 |
|
Posts: n/a
|
My father set up a FLP for his estate (which includes oil royalties). Once he died, my brother became the General Partner and has been making monthly payments to my siblings and me. He refuses to give us any information on the estate's finances and maintains that because he is the General Partner and we are only Limited Partners, the control of all finances belongs to him.
I want out of the Partnership. I want the oil companies to pay me directly -- Are there potential negative consequences to dissolving the Partnership? Is it possible for a Limited Partner to break away? Thanks. |
|
|
|
#2 |
|
Top Level Member
Last Online:
09-09-2008 09:59 PM Join Date: May 2007
Posts: 691
|
You should have a financial planner and tax professional at least briefly review it with you firstly.
You can demand an accounting of the partnership if you feel that all may not be correct. A court can even order it if need be. |
|
|
|
![]() |
| Thread Tools | Search this Thread |
| Display Modes | Rate This Thread |
|
|
Similar Threads
|
||||
| Thread | Thread Starter | Forum | Replies | Last Post |
| limited partnership n. a special type of partnership which is very common when people | Unregistered | Business Contracts & Partnerships | 0 | 07-23-2008 12:22 AM |
| Family problems | Unregistered | Other Family Law Matters | 5 | 05-07-2008 12:10 AM |
| Problems with Family Court Commisioner | bechahn | Child Custody & Support | 1 | 02-27-2008 09:27 AM |
| Does contract describe a general or limited partnership? | Unregistered | Business Contracts & Partnerships | 4 | 02-23-2008 09:18 PM |
| Family Limited Partnership vs. General Partnership | Innocent Bystander | Business Contracts & Partnerships | 1 | 12-06-2007 01:15 PM |