When someone who was part of a business partnership dies, the surviving business partners have to make a list of what the partnership owns and owes, and file that list with the probate court. If the court opened a case for the dead partner's estate, the surviving partners have 30 days to file the list. If no court case was opened, they have 60 days. The list needs to show the dead partner's share of the business, the total value of everything the business owns, and the total of everything the business owes. A court can order a more detailed list or a full appraisal if needed.
473.220. . — Within thirty days after are granted on the of a member of any , the or shall file a of the partnership in the in which letters are d on the estate, to be a part of the court records of the of the . If no letters are issued on the decedent's estate in this state the surviving partners shall file the within sixty days after the death of a partner in the of the county of which the was a resident at the time of his death or, if a , in the probate division of the circuit court of the county in which the partnership had its business office in this state, the inventory to be indexed under the name of the deceased partner and also the name of the partnership and to be a part of the court records of the administration of the partnership. The inventory shall state the of the deceased partner, the value of the of the partnership and the aggregate of its , but no detailed list of assets or liabilities is required unless ed by the court. Upon the of any or the court, , may order the surviving partners to file a detailed list of of the partnership and it also may order that the assets of the partnership be appraised as provided by law for the of the assets of a decedent. On the request of any surviving partner, the court may issue a reciting that he has filed an inventory of the assets of the partnership in accordance with this section and that he be held to account to the or of the estate of the decedent in accordance with the .
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Source & history notes
(L. 1955 p. 385 § 93, A.L. 1957 p. 829, A.L. 1978 H.B. 1634) Effective 1-02-79
Related Missouri laws
Settlement
RSMo 473.223
Action on bond generally
RSMo 473.217
Security
RSMo 473.227
Limitations on suits
RSMo 473.213
Citation of partner
RSMo 473.230
Successor may sue on bond
RSMo 473.210
Legal information, not legal advice. Always confirm with the official source at revisor.mo.gov.