Q: My mom owned a cosmetology school. It was under a LLC. The business closed, and the students had to transfer....
Because the students transferred, the insurance my mom had "covered" the expenses of the students tuition and fees. This insurance company is claiming she, the co-owner, and LLC lawyer signed the Indemnity Agreement which makes the owners liable for the damages. The insurance already sent the bill of $133,000 to collections and the collection company is threatening to go through legal actions. My question is, can they come after my mom's assets? Can they come after her assets if she has joint accounts with my dad (on properties, bank accounts, etc)? All help is appreciated. Thank you.
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