Question

Short answer type question:
Why heirs of deceased partner are entitled to share of goodwill of the firm?

Answer 1

Heirs of deceased partner are entitled to share of goodwill of the firm because the goodwill earned by the firm is the result of the efforts of all the existing partners in the past. As they will not be sharing future profits, it will be fair to compensate their share to their heirs by the remaining partners.