Death of a partner
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Satish Mehra
(Querist)
17 August 2020
There are 6 partners (Mom - Dad - 4 Children) (20%-20%-(15*4)%). Dad died and profit-sharing ratios now will be (Mom - 4Children) (20% - (20*4)%). i.e, 20% each. What will be the treatment of the capital of Dad if it is inherited to all the 4 children equally? And what will be the points in the highlight in amended partnership deed?
CA Raj Doshi
(Expert)
18 August 2020
Capital shall be divided as per will. No need to mention in deed. Mention continuing partners and their share.
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Arpit Shah
(Expert)
18 August 2020
u can make a new deed and share new ratio with proof death certificate
and continue firm
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