We have a 2-way partnership in 43H. We are seriously thinking about
adding one last person and in talking to them they asked about what
happens if their job took them out of town and they had to get out of
the partnership.

What is the usual procedure? Do you get an appraisal and divide it by 3
or what? I know I should have thought about this before but our
agreement between just the two of us has the one leaving the partnership
supplying a "new" partner in their place. I think I know what to do but
I am probably missing some good information that this group provides.
Thanks in advance.

Jon Kraus
'79 Mooney 201
4443H @ UMP