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?

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.

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?

Give her the vehicle plus $119.75K, the other three get

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.

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

In article <xdqki.4627$V35.180@trndny03>,
"Mark Mastrocinque" <mastrocinquem@gmail.com> 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.

First the heirs need to agree on how to evaluate the real value of the
vehicle (Kelly Blue Book "good" private sale or whatever). Assume that
the vehicle is worth $7000. The estate is now worth $507,000. Divide
507,000 4 ways which comes to $126,750. Three people each get $126,750.
the 4th gets the car plus $119,750. Thry to remain friends after the
division

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

"Mark Mastrocinque" <mastrocinq...@gmail.com> 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?

Give her the vehicle plus $119.75K, the other three get
126.75K each making a total of $507K.

BeachBum (Jim)

On Jul 9, 7:39 am, "Mark Mastrocinque" <mastrocinq...@gmail.com
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.

She pays each of the other three $1750 and takes the car.

Am I missing something?

I think you've got it right. She's already entitled to 1/4 of the
car's value so 3/4 of the car's value should be subtracted from her
share, not the entire value of the vehicle. So, we have two ways of
looking at this.

On Jul 9, 12:08 pm, "BeachBum" <bbgh...@yahoo.com> wrote:
"Mark Mastrocinque" <mastrocinq...@gmail.com> 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?

Give her the vehicle plus $119.75K, the other three get
126.75K each making a total of $507K.

BeachBum (Jim)

She gets $119,750 which is $126,750 minus $7000. However, isn't 1/4
of the value of the car hers? Shouldn't she receive 1/4 of the house
minus 3/4 the value of the vehicle?

She is entitled to 1/4 of the estate of $507K - that is $126.75K

markmas wrote:

I think you've got it right. She's already entitled to 1/4 of the
car's value so 3/4 of the car's value should be subtracted from her
share, not the entire value of the vehicle. So, we have two ways of
looking at this.

My original answer;
In which case $507K/4 = $126,750 per individual, three getting all cash,
one getting $119,750 plus car.

You'd prefer, $125,000 - (3*$1750) + Car ($7000), right?

125,000-5250 = $119,750

$119,750 + Car is what my first response was. This is not a 'second way',
just one that would take two steps. It doesn't need to be complicated, one
check per beneficiary, and the one car transfer.
JOE