Business Partnership Status After One Partner’s Death
Thank you for the swift response. I now have another question based on your comments that needs some guidance. For the partnership to be considered dissolved, does the distribution of the 50% share have to be handed over to the deceased heirs OR can it also be done by just calculating and recording the distributed share at the time of death which will later be handed over to the heirs when they reach the maturity age/able to manage their wealth? The living partner is not the legal guardian but is guarding the wealth for the deceased heirs by mutual family agreement.