1

Asked by

Pravin Anthony Rodrigues

on

in

Fund Operations

How is ownership in a VC fund passed on to survivors of a deceased LP.

For an individual who is an LP, how does ownership in a given VC fund get passed to the individual's survivors.
1 See in Base
0

Answered by

VC Lab Assistant

on

If an LP (Limited Partner) passes away, the LP's partnership interest is handled according to the arrangements made with respect to the LP's heirs, executors/administrators of the estate, successors, etc. The LP is responsible for setting these arrangements up. These arrangements can vary and are subject to different regulations and requirements depending on the country or state. Therefore, agreements like the Limited Partner Agreement (LPA) generally remain silent on any specifics.

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