This is a document deed of accession. It can be used when a partner has nominated a child in his or her will (ie, an heir) as a successor to the partnership, if that partner dies.
It is designed to ensure that the incoming (ie, “nominated partner” or “inheriting partner”) agrees to adhere to, and be bound by, the terms of the partnership agreement. It also ensures that the new partner receives his or her share of the assets, future profits and goodwill of the partnership.
Practitioners may wish to use either “inheriting partner” or “nominated partner” as necessary, in order to ensure that the wording of this deed matches the wording of the partnership agreement.
This document has been authored for LexisNexis by Michael Heraghty, Partner, TressCox Lawyers, Rosemarie Ryan, Barrister and Jacqui L Walker, Principal Lawyer, J L Walker Law.
This document is prepared with the assistance of Specialist Editor Stephen Newman, Executive Counsel, Ponte Earle.