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Johnson was a one-third partner in Johnson, Nixon, and Carter LLP. He died suddenly, and his will stated he left everything to his wife, including
Johnson was a one-third partner in Johnson, Nixon, and Carter LLP. He died suddenly, and his will stated he left everything to his wife, including a one-third interest in the land and building owned by the LLP. Assuming the LLP agreement is silent,
a. | Mrs. Johnson receives a one-third ownership interest in the land and building of the LLP. | |
b. | Mrs. Johnson will receive the fair value of Mr. Johnson's interest in the LLP. | |
c. | Both of the above. | |
d. | For purposes of managing the LLP, Mrs. Johnson becomes a partner upon her husband's death. |
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