Legal Question in Business Law in Minnesota
limited partnership
I received a k-1 tax form in the mail and discovered that my mother had used my name and social security number and signed me into a ''family limited partnership'' without my knowledge or consent. Is this possible to do without breaking the law? My mother dis-inherited me years ago because I refused to keep kissing her you know what, and I believe she is using my S.S number as well as my childrens S.S numbers illegally- what can I do to stop her from using our numbers and names?
2 Answers from Attorneys
Re: limited partnership
Since you are part of her Ltd Partnership, you are entitled to records and the document itself.
I would need more information, but there are statutory provisions which provide for termination of membership by a limited partner even if the agreement does not.
Call for more guidance.
You may also have an action for damages as well, depending on the extent of her scheme.
Have you obtained a recent credit report on yourself?
Re: limited partnership
You can stop her from using your SSN wrongly, and those of your children, however, at first thought, it would appear that your mother made a gift to you and your children of a partnership interest in some assets, a piece of real property or business. This may be a good thing and a valuable benefit to you or gesture of good will by your Mom. Family limited partnerships are often used as an estate planning tool and a means to save Federal estate taxes. You can refuse to accept a gift. Is there any income attributed to your partnership interest? You need to learn more about the partnership in order to decide what course of action to take.