I have created LLP, we have 2 partners with 50-50% shares.
Due to my health, I don’t know how long I'll live, so I got added below point in LLP agreement and we both partners are agree with it.
- After death of any partner, the rights, title, position, share of that partner would go to legal heir of that partner.
But the main issue is that my husband is no more with us and my both children are of age of 16, 14 Years.
In case of my immediate death:
- Are my child eligible to take my place (all rights, title, positions, shares) in company as their age is less than min required age of LLP director?
- If no, than how I can do and secure future of my children?
Thank in advance.