Hi there. I am trying to solve the following and cannot get it right in my head.
Assume there is an estate of 100000. Two children are named to inherit 50% each. There are also 5 grandchildren set as beneficiaries to receive 60% of the entire estate and the church to get 5% of the entire estate.
Also, one child already got 1000 before the person died as pre inheritance.
If I calculate the amount for the grandchildren, they would get 12%, the church 5% of the entire estate, leaving 35% to be shared between the two children.
However, as one child already got 1000, I need to take that from one child, and share it across the others. If I do that though, it feels like everyone did not get what they should have as 12% of 101000 is more than 12% 100000.
How do I base my calculation on the original estate value, and then decrease the share of the child that already received some money?
Assume there is an estate of 100000. Two children are named to inherit 50% each. There are also 5 grandchildren set as beneficiaries to receive 60% of the entire estate and the church to get 5% of the entire estate.
Also, one child already got 1000 before the person died as pre inheritance.
If I calculate the amount for the grandchildren, they would get 12%, the church 5% of the entire estate, leaving 35% to be shared between the two children.
However, as one child already got 1000, I need to take that from one child, and share it across the others. If I do that though, it feels like everyone did not get what they should have as 12% of 101000 is more than 12% 100000.
How do I base my calculation on the original estate value, and then decrease the share of the child that already received some money?