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In principle, unless the wife was declared as a successor to her mother as partner in the trust, she would not automatically be the new partner. Successors and beneficiaries (inferior trusts) must be declared in the minutes or addenda contract's parts. A partnership is not a good way to go. However, when a partner dies, the other partner is now by him or herself. The best way is a pure trust wherein a board of managing directors exists elected by the board of trustees. When a managing director dies, nothing happens except condolences and his successor would take his or her position. grnthghs@Yahoo.com can be of service at no cost.

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17y ago

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