This LLP Retirement Letter is intended to be used where a member is retiring from an existing LLP. It is formal notification from the individual member to the LLP of his/her intention to retire from the LLP. It has been drafted to be used in conjunction with our Limited Liability Partnership Agreement and therefore will need to be adapted if the underlying LLP agreement varies significantly from our standard form.
This letter, as well as specifying the member’s intention to retire, states the date the retirement is due to take effect as well as the terms of the retirement, particularly how the retiring member will be re-paid any sums due to him/her and the restrictions that the member will abide by following his/her retirement. It assumes that the remaining members will continue to run the LLP following the retirement.
This is a standard form letter which should be given to the retiring member as the form the LLP expects to receive on their retirement. The LLP should follow this up with the LLP’s Acknowledgement of Retirement .
Optional phrases / clauses are enclosed in square brackets. These should be read carefully and selected so as to be compatible with one another. Unused options should be removed from the document.
This LLP Retirement Letter is in open format. Either enter the requisite details in the highlighted fields or adjust the wording to suit your purposes.
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