Prepare a Partnership Agreement with Income to Continue After Death
with this easy template for the USA.
- If a partner dies, the partnership continues as a partnership among the surviving partners and the estate of the deceased partner.
- The decedent's estate continues to participate in the net earnings and losses of the partnership for a period of years and in a proportion stipulated in the Agreement. Profits will be paid to the estate in quarterly installments.
- The capital account of the decedent will be determined at the time of death and will be paid to the estate in equal quarterly installments, together with interest.
- A partner may retire from the partnership at the end of a calendar year, and the same provisions will apply to a retired partner as to a deceased partner.
- The surviving partners have the right to continue using the name of a deceased or retired partner in the partnership name.
This USA Partnership Agreement with Income to Continue After Death
template is provided in MS Word format, and is fully editable to fit your particular circumstances.
Last Updated: 14-April-2016