Q: Our assets are in an LLP. Purchases require both signatures. If he buys outside of the LLP, can the LLP be held libel.
Husband has Parkinsons. He wants an RV, but I refused to cut a check from the LLP. He has managed to borrow on two credit cards that are in his name. This is outside of the LLP and without my endorsement. Is the LLP libel for any wrecks or nonpayments that he may incur?
A: You need to consult the lawyer that drew up the llp (hopefully not drawn up by an online site), consult an elderlaw attorney. I'd also suggest a family therapist because just erecting walls won't help your relationship.
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