What happens when one partner wants to leave, is incapacitated, or dies?
The answer depends on the agreement among the partners. If there is no prior agreement, the assets of the partnership are normally distributed among the partners and the estate of the deceased or departed partner on a pro rata basis in an amount equal to the partner’s share. Another option is for the partnership to continue, with the departed partner having received his pro rata share of the assets as determined at the time of dissolution.
