TaxTMI 
TaxTMI 
Dear Sir
I need a format / draft on reconstitution of partnership when out of 3 partner 1 partner died and firm continue to run the business after death of a partner.
Please forward the draft if you have any.
FORMAT / DRAFT ON RECONSTITUTION OF PARTNERSHIP DEED ON ACCOUNT OF DEATH OF PARTNER
25 Dec 2015 
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Reconstitution of partnership: procedures for continuing firm after partner's death and need for tailored drafting.
Reconstitution of a partnership after the death of one partner requires amending or drafting a new partnership deed to reflect continuation by surviving partners, settlement or buy-out of the deceased partner's share, treatment of goodwill, allocation of profits and management authority, and to address creditor consent, registrations, and succession rights; tailored drafting and professional legal advice are recommended. (AI Summary)
Reconstitution of a partnership after the death of one partner requires amending or drafting a new partnership deed to reflect continuation by surviving partners, settlement or buy-out of the deceased partner's share, treatment of goodwill, allocation of profits and management authority, and to address creditor consent, registrations, and succession rights; tailored drafting and professional legal advice are recommended. (AI Summary)