Not sure how much inheritance there will be, so i will just use $10k as an example
my father has $10,000 to be divided equally between 5 children, but one of the children owes him $1,000.
How does the money get divided?
This is how i figured it..........
$10,000 divided by 5 = $2,000 to each child
after receiving the $2,000 inheritance, the child owing the $1,000 puts the money he owes back into the pot and then it gets split between the 5 children. Therefore 4 of the children would receive $2,200 and the 5th child that owed the $1,000 receives $1,200
my father said that the 5th child should only get $1,000 and the other 4 should get $2,250. That doesn't seem correct. Can anyone out there help me out here? Thanks.
my father has $10,000 to be divided equally between 5 children, but one of the children owes him $1,000.
How does the money get divided?
This is how i figured it..........
$10,000 divided by 5 = $2,000 to each child
after receiving the $2,000 inheritance, the child owing the $1,000 puts the money he owes back into the pot and then it gets split between the 5 children. Therefore 4 of the children would receive $2,200 and the 5th child that owed the $1,000 receives $1,200
my father said that the 5th child should only get $1,000 and the other 4 should get $2,250. That doesn't seem correct. Can anyone out there help me out here? Thanks.