Planning Strategies for the Death of a Partner

Abstract

<p>Much of the confusion over the effect of the death of a partner on the partnership (and on the deceased partner’s estate) relates to the question of whether the death of a partner results in the closing of the partnership’s tax year with respect to that partner.<strong>1 </strong>The confusion is compounded by the fact that the regulations in place<strong>2 </strong>do not reflect the 1997 amendment to the statute.<strong>3</strong></p>