Valuation of partnership interest requires allocating firm net wealth between capital contributions and distributable residue under partnership terms.

Valuation of interest in a partnership requires determining the firm's net wealth and allocating the portion equal to capital among partners by contributed capital; the residue is allocated per dissolution agreement or, absent that, by profit-sharing entitlements. The sum allocated to an individual is the value of his interest. If net wealth includes assets outside the jurisdiction, in-jurisdiction interest is proportioned by the value of in-jurisdiction assets after related debts to the firm's net wealth. Assets subject to special statutory attribution are included proportionately in a partner's interest.

---

---

---