Partnership
Learn how partnerships affect estate planning. Discover trust options, succession planning, and tax considerations for business partners and their families.
What happens to my business partnership when I die?
When a partner dies, the partnership typically dissolves unless your partnership agreement specifies otherwise. Your ownership interest becomes part of your estate, but surviving partners may have rights of first refusal to buy out your share. A revocable living trust can help transfer your partnership interest to beneficiaries while potentially avoiding probate delays that could disrupt business operations.
