Q: Can my accountant “gift” assets from my portion of a family LLC to other members without my written consent?
My family has an LLC WHICH MY 3 sisters and I own in 4 equal shares (25% ea.) I asked to start the process of gifting it away and had agreed to, and signed documents to transfer 6%.
Up until now I was under the assumption that’s all I had agreed to. One of my Sister partners told me “ I do not own any interest in this LLC anymore.
I inquired with my accountant. She replied that ihad signed documentation to gift 6%, but she gifted the remaining 19% to the remaining parties “knowing my intent”. Can she do that without my written consent?
A: You are describing a complex situation that has written documents that need to be reviewed before anyone can answer your question. There are also potential tax issues that may require the expertise of a tax specialist. It just isn't realistic to post a couple of sentences on a website for this type of problem and expect to get sound legal advice. I do understand that you are focused on the issue of what you did and didn't give permission for, but there could be other legal issues that need to be addressed so to even try to answer that basic question without knowing all the details, I don't think is a good idea. Take all relevant documents to an attorney and ask you questions in the context of a proper office consultation. And yes, you may have to pay for the Attorney's time but in this case, that is what you need to do.
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