Inheritance Calculation: Assume there is an estate of 100000. Two children are named to inherit 50% each....

[Paulinho]

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?

 

[stapel]

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.

I suspect the various heirs would have to go to probate court to get this settled. I mean, if the two children get the entire estate, then there is no sixty percent left to be split amongst the grandchildren. The numbers just don't work.

 

[Paulinho]

I suspect the various heirs would have to go to probate court to get this settled. I mean, if the two children get the entire estate, then there is no sixty percent left to be split amongst the grandchildren. The numbers just don't work.

I’m looking for mathematical help. But thank you. The law where the will is being executed stipulates that the beneficiaries receive their share before the children’s 50% is calculated - or - the beneficiaries are payed half of their inheritance by each child that inherits 50%.

 

[Dr.Peterson]

The law where the will is being executed stipulates that the beneficiaries receive their share before the children’s 50% is calculated - or - the beneficiaries are payed half of their inheritance by each child that inherits 50%.

Then this should have been stated as part of the problem, so we don't have to guess at the law in this jurisdiction.

Given this, it seems to me that the one child should (logically, if not literally) put their 1000 back into the estate; then all the calculations should be done based on that total, including the children getting equal amounts.

But it's possible that the legal authorities have specified a different procedure. If "pre-inheritance" is allowed, there must be a law and/or precedent covering this situation.

One alternative is that you call the amount received by the other child x, so the one child receives x-1000, and then solve an equation. In writing the equation, you have to decide what total the beneficiaries get their percentages of. That's where I think the law has to dictate the answer.