Ownership Issues upon Death of a Partner_ A clearly established process of endorsement of ownership, role, and responsibility should be included in the agreement should one of the partners become incapacitated or dies.
You are venturing into a business partnership with your best friend, your spouse, or your cousin. If you think you are safe from all the business conflicts that arise in most start up ventures because you know your partner very well, think again. Most conflicts and legal contests are because of this ignorant belief. You have to protect not only yourself but also your partner. Hence it is best for you to draw up a partnership agreement template before you decide to commit yourself.