Hypothetical estate distribution

Financial Planning - Financial planning in general. (Moderated) 

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Subject Author Date Hypothetical estate distribution Mark Mastrocinque 07-09-2007  Re: Hypothetical estate distribution joeu2004 07-09-2007  Re: Hypothetical estate distribution joetaxpayer 07-09-2007  Re: Hypothetical estate distribution Mark Mastrocinq... 07-09-2007  Re: Hypothetical estate distribution markmas 07-10-2007  Re: Hypothetical estate distribution BeachBum 07-09-2007  Re: Hypothetical estate distribution Avrum Lapin 07-09-2007  Re: Hypothetical estate distribution Thumper 07-09-2007  Re: Hypothetical estate distribution PeterL 07-09-2007  Re: Hypothetical estate distribution markmas 07-10-2007  Re: Hypothetical estate distribution joetaxpayer 07-10-2007  Re: Hypothetical estate distribution Mark Mastrocinq... 07-10-2007
Posted by Mark Mastrocinque on July 9, 2007, 10:39 am Perhaps someone can help me determine what the most equitable distribution of an estate would be. The hypothetical situation is as follows: a.. $500,000 from proceeds of house sale b.. A vehicle worth $7000 c.. Four heirs One of the four heirs wishes to pay for the vehicle from her share of the estate. How do we do it? It seems simple but there are several ways of looking at it. Posted by joeu2004 on July 9, 2007, 11:13 am wrote: > Perhaps someone can help me determine what the most > equitable distribution of an estate would be. The hypothetical > situation is as follows: > a.. $500,000 from proceeds of house sale > b.. A vehicle worth $7000 > c.. Four heirs > One of the four heirs wishes to pay for the vehicle from her > share of the estate. How do we do it? Assuming that those number represent the total value of the estate (surprised!) and assuming that those are after-tax values and assuming that your intention is to divide the estate equally.... The total estate is $507,000, so each heir should receive $126,750. Three of the heirs will receive that amount out of the $500,000. The fourth heir should receive $119,750 out of the $500,000. That is $126,750 less $7000 for the car. Posted by joetaxpayer on July 9, 2007, 11:56 am Mark Mastrocinque wrote: > Perhaps someone can help me determine what the most equitable distribution > of an estate would be. The hypothetical situation is as follows: > > a.. $500,000 from proceeds of house sale > b.. A vehicle worth $7000 > c.. Four heirs > One of the four heirs wishes to pay for the vehicle from her share of the > estate. How do we do it? > > It seems simple but there are several ways of looking at it. I trust the will simply states equal shares to the 4 beneficiaries? In which case $507K/4 = $126,750 per individual, three getting all cash, one getting $119,750 plus car. Am I missing something obvious? I can't think of even one alternate method of doing this math. JOE Posted by Mark Mastrocinque on July 9, 2007, 5:18 pm Thank you. The problem is I'm not good at math. > > > Mark Mastrocinque wrote: >> Perhaps someone can help me determine what the most equitable >> distribution of an estate would be. The hypothetical situation is as >> follows: >> >> a.. $500,000 from proceeds of house sale >> b.. A vehicle worth $7000 >> c.. Four heirs >> One of the four heirs wishes to pay for the vehicle from her share of the >> estate. How do we do it? >> >> It seems simple but there are several ways of looking at it. > > I trust the will simply states equal shares to the 4 beneficiaries? > In which case $507K/4 = $126,750 per individual, three getting all cash, > one getting $119,750 plus car. > > Am I missing something obvious? I can't think of even one alternate method > of doing this math. > > JOE > Posted by markmas on July 10, 2007, 5:08 am > Mark Mastrocinque wrote: > > Perhaps someone can help me determine what the most equitable distribution > > of an estate would be. The hypothetical situation is as follows: > > > a.. $500,000 from proceeds of house sale > > b.. A vehicle worth $7000 > > c.. Four heirs > > One of the four heirs wishes to pay for the vehicle from her share of the > > estate. How do we do it? > > > It seems simple but there are several ways of looking at it. > > I trust the will simply states equal shares to the 4 beneficiaries? > In which case $507K/4 = $126,750 per individual, three getting all cash, > one getting $119,750 plus car. > > Am I missing something obvious? I can't think of even one alternate > method of doing this math. > > JOE See response of PeterL Similar Threads Posted Inherited IRA distribution help. December 5, 2006, 12:17 pm 529 distribution after the fact March 3, 2008, 5:15 am Best options for a in service distribution? July 4, 2007, 7:09 pm iShares distribution estimates? October 26, 2007, 9:31 pm I'm going to get a in-service distribution next April what now? November 25, 2007, 2:01 pm 401k Plan Distribution Rights? April 21, 2008, 5:24 pm Return of a portion of the 401k corrective distribution November 20, 2007, 7:27 pm Re: Making sense of paying of CC debt with a 401k (like) distribution February 29, 2008, 12:34 pm Re: Making sense of paying of CC debt with a 401k (like) distribution February 29, 2008, 4:07 pm Re: Making sense of paying of CC debt with a 401k (like) distribution March 1, 2008, 1:01 pm