On the death of a Bussiness Partner? We dont know who we have to write to within 30 Days anyone Help!!!?

Question

Partners shall not elect by notice in writing to aquire the share of the deceased partner within 30 days of the date of the death the partnership shall be wound up in accordance with the provisions of the partnership act 1890 provided that if the continuing partners do so elect as aforsaid then the share of the outgoing in the capital and assets of the partnership shall vest in the continuing partners in proportion of their respective shares in the profits of the partnership subject to the payment by the continuing partners to the outgoing deceased partner of a sum or sums calculated in accordance with the following provisions

Answer 1

Sounds like an extract from the partnership agreement itself ? Presumably the text should start with "if.....".The notice should be to the deceased partner's Executor(s).You would be well advised to consult a solicitor to minimise any disruption to the ongoing partnership business whilst all of this is sorted out,  

Answer 2

Your accountant will have the details on file of who is involved, they will also be able to advise you on what needs to be done and will take care of it for you.

Answer 3

Consult a solicitor.  If you have a partnership agreement, it must have been arranged legally and involved a law firm, they are the people to talk to.

Answer 4

why not start with their next of kin?....then panic...

Answer 5

The business usually has some lawyer/CPA/etc., that might give the remaining Partner(s) direction.  All partners usually sign some type of business legal agreement should this exact thing happen upon a death of one partner.