Hypothetical estate distribution

#12 07-10-2007, 06:33 PM

I told you...I'm not good at math.

"joetaxpayer" <joetaxpayer[at]nospam.com> wrote in message
news:MKmdnXCJiYZc6g7bnZ2dnUVZ_o2vnZ2d[at]comcast.com...
- quote -

> 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

#11 07-10-2007, 02:49 PM

"markmas" <mastrocinquem[at]gmail.com> wrote in message
news:1184045646.226891.191790[at]d55g2000hsg.googlegroups.com...
- quote -

> On Jul 9, 12:08 pm, "BeachBum" <bbgh...[at]yahoo.com> wrote:
> > "Mark Mastrocinque" <mastrocinq...[at]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

any way you cut it!

#10 07-10-2007, 12:14 PM

markmas wrote:

- quote -

> 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

#9 07-10-2007, 09:17 AM

On Jul 9, 12:08 pm, PeterL <po.n...[at]gmail.com> wrote:
- quote -

> On Jul 9, 7:39 am, "Mark Mastrocinque" <mastrocinq...[at]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.

#8 07-10-2007, 09:17 AM

On Jul 9, 12:08 pm, "BeachBum" <bbgh...[at]yahoo.com> wrote:
- quote -

> "Mark Mastrocinque" <mastrocinq...[at]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?

#7 07-10-2007, 09:08 AM

On Jul 9, 11:56 am, joetaxpayer <joetaxpa...[at]nospam.com> wrote:
- quote -

> 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

#6 07-09-2007, 09:18 PM

On Mon, 9 Jul 2007 11:08:21 -0500, Avrum Lapin <avrum223[at]verizon.netwrote:

- quote -

> In article <xdqki.4627$V35.180[at]trndny03> ,
> "Mark Mastrocinque" <mastrocinquem[at]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

The heirs don't need to agree on anything. They get what the will
states.
Thumper

#5 07-09-2007, 09:18 PM

Thank you. The problem is I'm not good at math.

"joetaxpayer" <joetaxpayer[at]nospam.com> wrote in message
news:uc-dnWFqOYkBxw_bnZ2dnUVZ_qKqnZ2d[at]comcast.com...
- quote -

> 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

#4 07-09-2007, 04:08 PM

On Jul 9, 7:39 am, "Mark Mastrocinque" <mastrocinq...[at]gmail.comwrote:
- quote -

> 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?

#3 07-09-2007, 04:08 PM

In article <xdqki.4627$V35.180[at]trndny03> ,
"Mark Mastrocinque" <mastrocinquem[at]gmail.com> wrote:

- quote -

> 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

#2 07-09-2007, 04:08 PM

"Mark Mastrocinque" <mastrocinquem[at]gmail.com> wrote
- quote -

> 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)

#1 07-09-2007, 03:56 PM

Mark Mastrocinque wrote:
- quote -

> 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

07-09-2007, 03:13 PM

On Jul 9, 7:39 am, "Mark Mastrocinque" <mastrocinq...[at]gmail.comwrote:
- quote -

> 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.

#-1 07-09-2007, 02:39 PM

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.

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