TL – Dr I inherited some property and my cousin is cooking the books and informed me if I cause problems I'm not on the LLC, will not be protected and will have the full responsibility.
English is my first language but I'm a California male so we have struggles.
I inherited part of a income producing property and my cousin controls 88% of it. I noticed some irregularities and issues about receiving money and the value of the property. He continues to blow me off. On the businesses income last year it shows he made will say $100,000 and I was to receive 12% of it or $8,000 and he didn't pay me. It's recorded in his taxes. I pointed out other problems and things he has not done for what I think is needed for the irs. I do not want to get in trouble.
He informed me that I did not join his LLC and if we get sued I am going to be the only one held responsible and continued to establish a bunch of other threats to me if anything goes wrong financially with the company because I am a part owner and not in his llc.
What are my best options, do I have options?