Withdrawing member

NICOLE MOORE on

Hi, we have a member who is withdrawing who has not paid
into our club since april 2010. To calculate her valuation
do we use this date (apr) or do we use the valuation as of
the date of her withdrawal (dec 2012). Please advise!

ira smilovitz on

You should follow the language in your Partnership Agreement. This probably says that you use a valuation near the date you receive the withdrawal request. Just because she didn't make contributions since 2010 doesn't mean that she isn't entitled to any increase (or decrease) in value of her share of the club since that date. By not contributing additional funds, her share of the profits or losses got progressively smaller as the other members continued to make contributions.

Ira Smilovitz

On Sun, Mar 10, 2013 at 2:50 PM, NICOLE MOORE <jandnmoore@aol.com> wrote:

Hi, we have a member who is withdrawing who has not paid
into our club since april 2010. To calculate her valuation
do we use this date (apr) or do we use the valuation as of
the date of her withdrawal (dec 2012). Please advise!

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