TAS How to go about ending small buisness partnership with significant other

[Reggie]

my defacto husband started a buisness over a decade ago, and registered me as a partner ( his reasoning was it was better tax wise to have a partnership than to be a sole trader). There is no partnership agreement and I no longer wish to be a partner in the buisness as I am trying to gain financial independence and have no longer any involvement with any of the business' running or decision-making process. How do I go about having my name removed from the partnership?
Thank you for your time

 

[Rod]

Give formal written notice and state the effective date.

There may be other requirements or consequences so you should talk to a local Tassie lawyer about your situation, discussing topics such as type of registered partnership, liabilities, guarantees, loans, etc.

Sometimes the process is easy and straightforward, other times not....

 

[angelawalshes]

Hello,

To end your small business partnership with your defacto husband, you should discuss your intention with him and express your desire to be removed as a partner. It would be ideal to consult with a legal professional to understand the legal and financial implications of ending the partnership. They can guide you through the necessary steps, which may include drafting a partnership dissolution agreement or updating the business registration documents to reflect the change. Seeking legal advice will help ensure a smooth and fair process.