Melissa P.

asked • 07/08/17

Finding correct division of property

If one member of estate is to get 25% and the rest is to be divided equally among the 4 others.  One of the four dividing the remainder is given a item so is removed from equation. What would be the amount each would get with the ratio being fairly redistributed?

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Kenneth S. answered • 07/08/17

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Melissa P.

This is to divide an estate. One took their share as a deduction in price for a property. I am trying to figure out how to divide the 18.75% portion that person was to get among the other 4 members of the estate fairly. The one is supposed to get a larger portion.  It would not be accurate to change it to a 25% to all ratio. Not sure if the larger portion should be 30% or 30.625% with the remainder divided equally among the remaining 3.
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07/08/17

Kenneth S.

Your submission includes this sentence: One of the four dividing the remainder is given a item so is removed from equation
 
That sentence is somewhat vague, and it is the reason for the capitalized portion of my original response. It is fairly certain that the governing WILL does not use this phrasing.  If you know the value of what that special person has already received, then that person's receipts can be subtracted from the four equal 18.75% portions.
 
I am thinking that this problem needs to be resolved by an Accountant, who must be in possession of the exact terms and wording of the LAST WILL & TESTAMENT. And the Probate Court must approve.
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07/08/17

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