When a partner dies,the partnership ceases to exist,and the deceased partner's estate will have ownership of the partner's equity in the partnership.

Question

Quizplus · Accepted Answer

This is true according to the basic principles of partnership law. When a partner dies, the partnership dissolves, unless there is an agreement in place that allows for the continuation of the partnership with the remaining partner(s) or a successor. The deceased partner's estate will then own their share of the partnership as part of their assets.

When a Partner Dies,the Partnership Ceases to Exist,and the Deceased