Q: What can I do when my business partner refuses to provide financial statements and has substantially reduced dividend?
My mom died last year, and was 25% owner of a family shopping center. Since my mom's death, my Aunt Janet has substantially reduced the dividend she is paying me, she has claimed that my 25% is not enough for me to even have the right to see the banking records or financial statements now that she's changed the business to an LLC. After my mom died, Janet kept pressuring me to sign some documents that her lawyer prepared, but I waited about a week to call him back, and by that time he had suffered a stroke and retired only a month or two later.
A: A North Carolina attorney who deals with business law and business organizations (Corp, LLC, etc) could advise best, but your question remains open for five weeks. A starting point could be to reach out to law firms to review your paperwork, your business partner's actions, and outline your options for you. Good luck
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