Death of a partners in a partnership???

If one of the partners dies & the deceased partner’s half is in a trust who becomes the managing partners??? Would it be the trustees that are in the trust or the living partner???

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    it depend upon the partnership agreement and according to the act 1988 if one partner dies it doesn’t mean the business entire business should be close…if the business is of 2 or 3 partner then the trustee would be most efficient and the person who have invested more is the trustee while if the partnership is more 3 then there should be proper board to be setup and all the partners should be called up and there all decision would be taken..it can’t be more than 20 partners and each partner vote is counted who soever get the more he/she would be the officially trustee of that partnership.

    Answered by: zak on Oct 11, 2012 Reply

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