Partnership Agreements and Your Will: UK Business Guide

James built his architectural firm with two partners over 15 years. They had a partnership agreement covering profit splits and decision-making, and James had written a will leaving everything to his wife and children. He thought he was protected.

When James died suddenly at 48, his partners discovered his will created a nightmare: under the Partnership Act 1890, the business was legally dissolved. His wife became entitled to his partnership share—but she had no architectural experience and didn't want to be a partner. The surviving partners needed to keep the business running for 23 employees, but they couldn't raise £680,000 to buy out James's share immediately. James's wife needed that money to pay the mortgage.

The partnership agreement and will, created independently, contradicted each other catastrophically.

In the UK, 356,000 partnerships operate—yet 69% of business owners have no succession plan, and only 32% have an up-to-date will. When a partner dies without coordinated legal documents, Section 33 of the Partnership Act 1890 automatically dissolves the business. This article shows you exactly how to align your partnership agreement with your will to protect your business, your partners, and your family—essential aspects of estate planning in the UK.

What Is a Partnership and How Does It Differ from Other Business Structures?

A partnership is defined under UK law as two or more people carrying on business together with a view to profit. It's one of the oldest business structures—and one of the most vulnerable when a partner dies.

There are 356,000 ordinary partnerships in the UK, representing 6% of the business population. Of these, 86,000 are employers with staff, while 270,000 operate without employees. These numbers have declined 20% since 2010 as businesses increasingly choose limited company structures.

Partnerships come in three main types: general partnerships (the most common), limited partnerships (where some partners have limited liability), and Limited Liability Partnerships (LLPs, which are separate legal entities). Each type has different implications for estate planning.

The critical difference between partnerships and limited companies is that partnerships are NOT separate legal entities. Partners personally own the business assets. When you die, your partnership interest passes through your estate, governed by your will or intestacy rules—not by corporate succession mechanisms.

This matters enormously for estate planning and what happens to your business when you die. A limited company shareholder's death doesn't affect the company's existence. A partner's death triggers automatic legal consequences that can destroy the business unless you have proper legal protection in place.

Understanding what happens when a partner dies without proper planning is essential to protecting everything you've built.

What Happens When a Partner Dies Without a Partnership Agreement?

Section 33(1) of the Partnership Act 1890 is devastatingly clear: "Subject to any agreement between the partners, every partnership is dissolved as regards all the partners by the death or bankruptcy of any partner."

Without a partnership agreement, the law treats your death as an automatic dissolution. The business must stop trading immediately. Assets must be sold. Debts must be paid. Any remaining surplus gets distributed to the partners.

There's no grace period. No time to find buyers. No opportunity for orderly transition.

Dr Sarah Chen ran a medical partnership with three other GPs. When her partner Dr Michael Thompson died suddenly at 52, their practice had no partnership agreement. Section 33 triggered automatic dissolution. The practice couldn't continue seeing patients without legal authority. The remaining doctors scrambled to transfer 4,200 patient records to other practices. Employees lost their jobs within weeks. The goodwill the practice had built over 18 years evaporated.

If the business continues trading without settlement, Section 42 of the Partnership Act 1890 gives the deceased's estate a choice: either a share of profits attributable to their partnership share, or 5% interest per annum on the value of their share. This creates ongoing disputes between grieving families and stressed surviving partners.

David and his brother ran an accountancy partnership for 12 years. No formal agreement existed—they trusted each other. When David died at 45, his widow needed immediate cash for the mortgage. The surviving brother needed to keep the business running but couldn't raise £340,000 immediately. Section 42 meant David's estate could claim either profit share or 5% annual interest. Clients, sensing instability, started leaving. The business value plummeted before David's widow could claim anything.

Approximately 53% of partnerships are unregistered, likely operating without formal agreements. These partnerships face the highest risk when a partner dies.

A partnership agreement changes everything—but only if it's properly drafted to coordinate with your will.

How Partnership Agreements Prevent Automatic Dissolution

A well-drafted partnership agreement explicitly overrides Section 33's automatic dissolution. It's your shield against the Partnership Act 1890's default consequences.

Essential clauses for death provisions include:

Continuation clause: The partnership continues with surviving partners rather than dissolving. This single provision prevents business destruction.

Expulsion clause: The deceased partner's estate is not automatically admitted as a partner. This prevents your spouse or children becoming unwanted business partners.

Valuation formula: How your share will be valued—typically based on average profits (e.g., three years' average net profits) or net asset value. This prevents disputes about what the estate should receive.

Payment terms: Whether the buy-out happens as a lump sum or staged payments over multiple years (commonly 3-5 years). This determines whether surviving partners can afford the buy-out.

Buy-out rights: Whether surviving partners have an obligation or option to purchase the deceased's share. This distinction matters enormously for inheritance tax.

Emma's accountancy partnership had a thorough agreement drafted in 2018. When her partner died in 2024, the continuation clause kept the business trading. The valuation formula—based on three years' average profits—gave a clear figure of £420,000. Payment terms allowed the surviving partners to pay over four years from business profits. Emma's partner's widow received certainty about what she'd receive and when. The business continued without disruption.

But here's what partnership agreements CANNOT control: who inherits the buy-out payment. That's determined by your will or intestacy rules.

The coordination gap catches many partnerships. Your partnership agreement might say "surviving partners buy the deceased's share for £450,000 payable over five years." Your will says "everything to my spouse." Both documents think they're working—but what if your spouse needs that £450,000 immediately, not over five years?

Cross-option agreements represent best practice. The surviving partners have an option to buy; the deceased's estate has an option to sell. Neither party is obligated. This structure preserves Business Property Relief (reducing inheritance tax) while giving both sides flexibility.

Who receives the buy-out payment? That's where your will becomes essential.

Why Your Will Is Critical Even with a Partnership Agreement

Your partnership agreement protects business continuity. Your will protects your family's financial interests. Both must work in harmony.

Without a will, intestacy rules determine who receives your partnership buy-out payment. Your share might go to estranged relatives, or be split in ways that don't reflect your wishes. Intestacy creates a statutory formula that treats all assets the same—it has no understanding of your business arrangements.

Consider this common conflict: Your partnership agreement values your share at £500,000 payable over five years. Your spouse needs £500,000 now for the mortgage and children's education. The surviving partners can't raise that cash immediately. Your will left everything to your spouse, but the partnership agreement controls the payment schedule. Result: deadlock, resentment, and potential litigation.

Timing mismatches destroy families and friendships. Partnership agreements often specify staged payments over 3-5 years to protect business cash flow. Beneficiaries frequently need money sooner. Your will must acknowledge and accommodate the payment structure in your partnership agreement.

Tax implications add another layer of complexity. Partnership shares typically qualify for 100% Business Property Relief (BPR), meaning they pass inheritance tax-free. But ONLY if you structure both documents correctly using cross-option agreements—a key consideration when planning business succession in your will.

From April 2026, BPR is capped at £1 million at 100% relief, then 50% relief above that—creating an effective 20% inheritance tax rate on values above £1 million. For partnership shares worth £2 million, that's potentially £200,000 in tax. Your will and partnership agreement must coordinate to preserve maximum relief.

Robert's case shows the disaster of poor coordination. His partnership agreement gave surviving partners the right to buy his share over five years. His will left his share to his two children, aged 10 and 12. When Robert died, his ex-wife (the children's guardian) suddenly controlled voting on partnership decisions until the children turned 18. The business faced paralysis. Surviving partners couldn't make major decisions. Robert's children received nothing for five years, then got a business they didn't understand.

To avoid these conflicts, your will must be written with full knowledge of your partnership agreement's terms.

Coordinating Your Partnership Agreement and Will - Essential Steps

Coordination isn't optional—it's the difference between protecting everyone and creating chaos. Follow these steps to ensure your documents work together.

Step 1: Review your partnership agreement's death provisions. If you don't have an agreement, creating one is your immediate priority. Locate your agreement and identify: continuation clause, valuation method, payment terms, and buy-out structure.

Step 2: Understand the valuation formula and payment terms. Is valuation based on profits, assets, or a multiple? Are payments immediate or staged? Can your beneficiaries afford to wait for staged payments?

Step 3: Draft your will to name beneficiaries who receive the BUY-OUT PAYMENT. Not the partnership share itself. Your will should say "I give my interest in [Partnership Name] and any proceeds from the sale thereof to..." This acknowledges the buy-out process.

Step 4: Include provisions for multi-year payments. If your partnership agreement specifies payments over five years, your will should establish how beneficiaries receive and manage those payments. Consider whether they need immediate cash and make alternative provisions.

Step 5: Consider a discretionary trust for partnership proceeds. Trusts provide tax efficiency and flexibility. Trustees can distribute partnership buy-out payments according to beneficiaries' changing needs rather than rigid percentages.

Step 6: Ensure executors understand partnership arrangements. Your executors need to know the partnership agreement exists, where to find it, and how to coordinate with surviving partners on valuation.

Use this coordination checklist:

Do your will and partnership agreement reflect the same ownership percentage?
Does your will accommodate the payment schedule in your partnership agreement?
Have you informed your executor about the partnership agreement's location?
Have your partners and their families been briefed on succession plans?
Is the valuation method realistic and recently updated?
Have you reviewed both documents since partnership changes (new partners, changed profit shares)?

Red flag: Never give your partnership share directly to a non-partner beneficiary if your partnership agreement has pre-emption rights (rights of first refusal). HMRC will disqualify Business Property Relief, triggering 40% inheritance tax.

Best practice: Create a side letter to your executors. Explain your partnership agreement's key terms, the coordination approach, and contact details for surviving partners and the partnership's solicitor. This simple document prevents months of confusion.

Even with perfectly coordinated documents, tax planning can dramatically increase what your family ultimately receives.

Inheritance Tax and Business Property Relief for Partnerships

Partnership shares sit in your estate and face 40% inheritance tax on values above £325,000 (the nil-rate band). But Business Property Relief (BPR) can provide 100% relief if you structure everything correctly.

BPR gives 100% relief on qualifying partnership interests held for 2+ years. For a partnership worth £800,000, that's potentially £190,000 saved (£475,000 above nil-rate band × 40%).

What qualifies for BPR? Interests in trading partnerships. Your partnership must actively trade goods or services—not primarily hold investments—a distinction that's crucial when understanding business assets versus personal assets in wills.

What DOESN'T qualify: Partnerships primarily dealing in securities, stocks, shares, land, or buildings (except property developers actively trading). Investment partnerships holding rental properties don't qualify. Property development partnerships actively building and selling do qualify.

The cross-option structure is critical for BPR. Your partnership agreement must give partners an OPTION to buy, not an obligation.

Why does obligation kill BPR? If partners are contractually obliged to buy your share, HMRC treats it as a binding contract for sale. Your share becomes a debt owed to your estate, not a business asset. No business asset means no Business Property Relief. The entire value faces 40% tax.

HMRC accepts cross-option agreements under Statement of Practice SP12/80. The estate has an option to sell. The surviving partners have an option to buy. Neither is obliged. Result: BPR is preserved.

From April 2026, the rules change significantly. BPR will be capped at 100% relief on the first £1 million of combined business and agricultural property. Above £1 million, relief drops to 50%—creating a 20% effective inheritance tax rate.

Let's calculate the impact. Your partnership share is worth £2.4 million. Under current rules with full BPR: £0 inheritance tax. Under 2026 rules: £1 million at 100% relief (£0 tax), £1.4 million at 50% relief. That £1.4 million at 50% relief means £700,000 is taxable. At 40% inheritance tax, that's £280,000 in tax your family must pay.

There's a planning opportunity before 2026. Gifts of partnership interests now start the 7-year clock. If you survive seven years after gifting, the gift is outside your estate. Multiple smaller gifts over several years can reduce the ultimate tax burden.

Spousal exemption offers another strategy. Transfers to your spouse or civil partner are inheritance tax-free. Each spouse then gets their own £1 million BPR cap. For a couple with a £2.4 million partnership, careful planning could protect £2 million (£1 million per spouse) at 100% relief.

Partnership succession isn't just about legal documents—it's about having the cash to make those documents work.

Partnership Life Insurance and Buy-Sell Agreements

The liquidity problem destroys otherwise sound succession plans. Your partnership might be worth £750,000, but surviving partners rarely have £375,000 in cash to buy your share immediately.

Life insurance solves the cash flow problem. Partners take out policies on each other's lives, creating the funds to complete buy-outs when someone dies.

Two main structures exist:

Own-life insurance in trust: Each partner has a policy on their own life, written in trust for their family. When you die, your family receives the insurance proceeds AND the buy-out payment from the partnership. This provides extra financial security but doesn't help surviving partners fund the buy-out.

Cross-life insurance: Each partner has a policy on the OTHER partners' lives. When you die, the surviving partners receive the insurance proceeds—giving them the cash to buy your share from your estate. The business continues, and your family receives the buy-out payment.

Cross-life structures usually work better for business continuity. The cash goes directly to the people who need to pay your estate. Your family gets certainty of payment. Surviving partners avoid scrambling for funds.

How much insurance should you have? Match your partnership agreement's valuation formula. If the formula values shares at three times average profits, insure for that amount. If your share would be worth £450,000 under the formula, you need £450,000 of cover per partner.

Marcus and his two partners each took out £300,000 cross-life policies in 2020. When Marcus died in 2024, his partnership share was valued at £285,000 under their profit-based formula. The surviving partners received £300,000 from the insurance, paid Marcus's estate £285,000, and kept £15,000 to cover valuation and legal costs. Marcus's widow received payment within six weeks. The business continued without financial strain.

Key person insurance is separate from buy-out insurance. Key person policies compensate for lost profits when a key partner dies. If your accounting expertise generated £150,000 annual profit, key person insurance might pay £300,000-£450,000 to cover the profit loss while the business adjusts.

Coordinate insurance with your will. If you use own-life insurance in trust, your will should acknowledge that insurance proceeds are separate from partnership buy-out value. Your beneficiaries receive both—don't accidentally count the same money twice.

Tax treatment matters. Life insurance proceeds are normally inheritance tax-free if written in trust. The partnership buy-out payment qualifies for BPR if you've structured cross-options correctly. Done right, your family receives the full value with minimal tax.

Review coverage annually. Partnership values change. Your £400,000 share might be worth £550,000 three years later. Insurance should track current value, not historic figures.

Different types of partnerships face unique challenges that affect how you structure these arrangements.

Special Considerations for Different Partnership Types

Family partnerships, professional partnerships, and LLPs each present distinct estate planning challenges. Your approach must match your partnership type.

Family Partnerships

Family businesses create the hardest decisions: balancing fairness between children in the business and children pursuing other careers.

Robert and his son Tom run a family construction business. Robert's daughter Sarah is a teacher. If Robert leaves his partnership share equally to both children, Tom (who's worked in the business for 15 years) must share ownership with Sarah (who has no construction experience). If Robert leaves the business share only to Tom, Sarah feels unfairly excluded from the family wealth.

Common solutions include leaving the business share to children in the business, while giving other assets (property, investments) of equal value to children outside the business. This preserves business continuity while maintaining family fairness.

Agricultural Property Relief (APR) interacts with BPR for farming partnerships. Both reliefs share the same £1 million cap from 2026. Farming families must coordinate partnership and land ownership carefully.

Professional Partnerships

Solicitors, accountants, and doctors operate under regulatory frameworks that affect succession planning.

Professional bodies often mandate specific partnership agreement templates. The Law Society, ICAEW, and BMA provide standard agreements that include death provisions. Your will must coordinate with these standardised terms.

Regulatory restrictions determine who can be partners. Only qualified solicitors can be partners in law firms. Only registered medical practitioners can be GP partners. Your will cannot give your share to someone unqualified—the partnership agreement will prevent them becoming a partner regardless.

Goodwill treatment varies by profession. Many professional partnerships don't recognise or pay for goodwill on death—only capital and profit share. Medical partnerships often include annuity provisions, providing ongoing payments to a deceased partner's spouse rather than lump sums.

Dr Sarah Ahmed's GP partnership agreement included a spouse annuity clause. When she died at 54, her husband received £35,000 annually for 10 years rather than a £280,000 lump sum. The partnership funded this from ongoing profits, avoiding cash flow strain. Sarah's will acknowledged this arrangement and distributed her other assets accordingly.

Limited Liability Partnerships (LLPs)

LLPs are separate legal entities under the Limited Liability Partnerships Act 2000—legally distinct from general partnerships. This changes everything.

LLP members hold "membership interests" not partnership shares. Estate planning resembles company shareholder succession more than traditional partnership succession.

Members' agreements serve the same function as partnership agreements but operate under different legal principles. Death doesn't automatically dissolve an LLP—the entity continues regardless. Your membership interest is valued and transferred according to the members' agreement.

Your will must still coordinate with the members' agreement regarding who receives the buy-out value. The same coordination principles apply: cross-options preserve BPR, payment schedules must match beneficiary needs, and executors need to understand the buy-out process.

Capital-intensive partnerships (property development, engineering) often have large capital accounts that take years to extract. If you've contributed £350,000 to partnership capital, that forms part of your share value. Your will should provide for staged distributions matching the partnership's ability to return capital without forcing asset sales—considerations that also apply to sole traders protecting their businesses.

Mistakes in these specialised areas create unnecessary problems—here are the most common disasters.

8 Common Mistakes That Create Partnership Succession Disasters

Learning from others' mistakes is cheaper than making your own. These eight errors repeatedly destroy partnerships and devastate families.

1. No partnership agreement at all

What it is: Operating as a partnership with no written agreement documenting death provisions, valuation, or buy-out terms.

Why it happens: Family partnerships trust each other and avoid "difficult conversations." New partnerships focus on growing the business, not planning for death.

Real consequence: Section 33 automatic dissolution. The business must close, assets sold at fire-sale prices, goodwill evaporated. David's engineering partnership dissolved when his partner died—£680,000 in equipment sold for £290,000 at auction within six weeks.

Quick fix: Instruct a partnership solicitor to draft an agreement now. Cost: £1,000-£2,500. Far cheaper than dissolution.

2. Partnership agreement but no will

What it is: Having a solid partnership agreement protecting business continuity, but dying intestate so statutory rules determine who receives buy-out payments.

Why it happens: Business owners prioritise business documents over personal estate planning.

Real consequence: Buy-out payment goes to unintended beneficiaries under intestacy rules—potentially estranged relatives or former spouses through children's inheritance.

Quick fix: Create a will immediately. WUHLD's online service (£49.99) can create partnership-coordinated wills for straightforward estates.

3. Will created without reviewing partnership agreement

What it is: Writing a will in isolation, without considering how it interacts with partnership agreement provisions.

Why it happens: High street solicitors draft wills without asking about business interests. DIY will makers don't realise coordination is essential.

Real consequence: Contradictory provisions create deadlock. Partnership agreement requires five-year staged payments; will requires immediate distribution to beneficiaries who need cash now.

Quick fix: Review both documents together. Amend your will to acknowledge and accommodate partnership agreement terms.

4. Partnership agreement with obligation to buy (not option)

What it is: Agreement requires surviving partners to buy deceased's share—creating a binding contract for sale.

Why it happens: Solicitors unfamiliar with BPR implications draft "certain" buy-out provisions without understanding tax consequences.

Real consequence: Business Property Relief disqualified. £500,000 partnership share faces 40% inheritance tax—£200,000 tax bill. Family must sell assets to pay HMRC.

Quick fix: Amend agreement to cross-option structure. Estate has option to sell; partners have option to buy. Neither obliged. BPR preserved.

5. No life insurance or inadequate coverage

What it is: No insurance funding buy-outs, or insurance that's too low because partnership value has increased since policies were arranged.

Why it happens: Partners postpone insurance due to cost, or arrange it once then never review coverage.

Real consequence: Surviving partners can't fund buy-out. Business must be sold to pay deceased's estate. Everyone loses.

Quick fix: Arrange cross-life insurance matching current partnership value. Review annually and increase coverage as business grows.

6. Valuation formula that's unrealistic

What it is: Partnership agreement uses outdated valuation method—e.g., based on historic profits when business is now loss-making, or asset values from a decade ago.

Why it happens: Partnerships create agreements during profitable years, never update when circumstances change.

Real consequence: Disputes, potential litigation, business value destroyed during conflict. Family and partners both lose while solicitors' fees mount.

Quick fix: Review and update valuation formula every 3-5 years. Use current profit averages, current asset values, or independent professional valuation.

7. Giving partnership share directly to non-partner beneficiary

What it is: Will attempts to give partnership share itself to spouse or children, contradicting partnership agreement's pre-emption rights.

Why it happens: Misunderstanding that you can only leave the buy-out VALUE, not the share itself (unless agreement permits).

Real consequence: Will provision is ineffective (partnership agreement controls), or inadvertently creates unwanted "partner" with voting rights but no business knowledge.

Quick fix: Will should give "my interest in [Partnership] and proceeds from sale thereof"—acknowledging buy-out process.

8. Not updating documents after partnership changes

What it is: Keeping old partnership agreement and will unchanged despite new partners joining, profit share changes, or business expansion dramatically increasing value.

Why it happens: Update paralysis—knowing documents need changing but overwhelmed by complexity and cost.

Real consequence: Shares and buy-out values completely misaligned. Four-partner agreement still references original two partners. Will divides "my half share" when you now own 30%. Chaos.

Quick fix: Set annual review date. Update partnership agreement when partners change; update will when shares or family circumstances change.

Each mistake is fixable—but only if you act before death triggers the consequences. Here's your action plan.

Your Partnership and Will Action Plan - What to Do Now

Coordination requires action, not just understanding. This roadmap takes you from where you are to complete protection.

Immediate Actions (This Week)

Locate your partnership agreement or confirm one doesn't exist
Locate your current will or confirm you don't have one
Schedule a 30-minute discussion with partners about succession planning
List all partners with ages, ownership percentages, and estimate your share value

If you discover you have neither agreement nor will, that 30-minute discussion becomes urgent. Every day without protection puts your business and family at risk.

Short-Term Actions (This Month)

If no partnership agreement exists: Instruct a solicitor experienced in partnership law to draft one. Expect £1,000-£2,500 for a standard agreement. Complex partnerships (multiple partners, property assets, professional regulations) may cost £3,000-£5,000.

If partnership agreement exists but is outdated: Arrange review with your partnership solicitor. Amendments typically cost £500-£1,500 depending on complexity.

Get your partnership valued: Your accountant can provide a valuation for £500-£1,500. This figure is essential for insurance and will planning.

Get life insurance quotes: Based on valuation, obtain quotes for cross-life policies. Three partners each holding £300,000 policies might pay £150-£400 per month depending on age and health.

Will Creation (This Month)

If you have a partnership agreement: Create a will that coordinates with the buy-out provisions. Consider payment schedules, beneficiary needs, and tax planning.

If no partnership agreement yet: Create a will with flexibility for future partnership agreements. Don't leave specific partnership provisions until the agreement exists.

WUHLD's online will service (£49.99) works for partnerships with standard buy-out provisions and straightforward estates. You can create a coordinated will in 15 minutes, preview it completely free, and only pay if you proceed.

Complex situations require specialist help: multiple partners with different share classes, large estates over £1 million approaching the 2026 BPR cap, family business succession to the next generation, or professional partnerships with regulatory requirements. For these, budget £800-£1,500 for a specialist partnership solicitor.

Medium-Term Actions (Next 3-6 Months)

Implement life insurance in the structure that suits your partnership (own-life or cross-life)
Ensure all partners complete their wills with coordination in mind
Create side letters to executors explaining partnership agreement coordination
Inform family members of succession plans—transparency now prevents conflict later

Ongoing Maintenance (Annually)

Review partnership valuation annually (business value changes)
Update life insurance coverage if value increases significantly
Review partnership agreement every 3-5 years or after major changes (new partners, changed profit shares, business expansion)
Review your will every 5 years or after major life events (marriage, divorce, children, partner changes)

When to use WUHLD vs. solicitor:

WUHLD is suitable for:

Straightforward partnerships with standard buy-out provisions
Estates under £1 million
Two or three partners with clear agreements
No complex family succession issues

You need a partnership solicitor for:

Complex multi-partner structures
Family succession planning to next generation
Estates over £1 million affected by 2026 BPR changes
Professional partnerships with regulatory requirements
Unusual partnership structures (property development, hybrid partnerships, international partners)

The investment in proper planning—whether £49.99 or £1,500—is negligible compared to the £hundreds of thousands at stake in your partnership and estate.

Protecting Both Your Partners and Your Family

Without coordinated legal documents, partnerships automatically dissolve under Section 33 of the Partnership Act 1890—destroying business continuity and family financial security in one catastrophic moment.

Partnership agreements protect business continuity, but wills determine who receives the financial value—both must be precisely coordinated to avoid family/business conflicts that benefit no one except litigation solicitors.

Business Property Relief provides 100% inheritance tax relief on partnership interests, but only with correct cross-option structures—and from April 2026, relief is capped at £1 million with only 50% relief above that threshold.

Life insurance creates the cash liquidity to fund buyouts without forcing business sales or creating multi-year payment disputes with grieving families who need money now, not in five years.

69% of business owners have no succession plan and only 32% have up-to-date wills—leaving partnerships and families vulnerable to catastrophic legal and financial consequences that proper planning prevents entirely.

Your partnership represents years of work, shared risk, and mutual trust with your business partners. Your family represents your life's deepest commitments and responsibilities. You don't have to choose between protecting one or the other—with coordinated legal planning, you protect both.

The question isn't whether you can afford proper planning. It's whether your partners and family can afford for you not to plan.

If your partnership uses standard buy-out provisions and your estate is straightforward, create a properly coordinated will with WUHLD in 15 minutes for £49.99. Preview your complete will free before paying—no credit card required, no subscriptions, no hidden fees.

For complex partnerships or estates over £1 million approaching the 2026 BPR changes, consult a partnership solicitor. Understanding what you need—from this article and others in WUHLD's library—helps you get better specialist advice at lower cost.

Start protecting both your business and your family. Create your partnership-coordinated will today.

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Legal Disclaimer: This article provides general information about partnership agreements and wills under UK law and does not constitute legal, tax, or financial advice. Partnership law, estate law, and inheritance tax rules are complex and depend on your specific circumstances. For advice specific to your partnership structure, estate size, and family situation, please consult a qualified solicitor and tax advisor. WUHLD's online will service is suitable for straightforward estates with standard partnership buy-out provisions; complex partnerships, family business succession, professional partnerships, or estates affected by the 2026 Business Property Relief changes may require specialist partnership and tax advice.

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