My friends Mother took out a home equity loan and gave first daughter 30,000 and her second daughter 10,000. She also loaned her son 10,000 in cash that was hers. She died a week later and left her estate to all three. The estate value was 314,000. The bank had to get paid back the 40,000 that both sisters had borrowed which left 274,000.
How much should each child end up with?

How much would each child have gotten without the loans being given?

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Originally Posted by Wondergirl

How much would each child have gotten without the loans being given?

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Hi Thanks
They were supposed to receive equal amounts but because of the different loan amounts the lawyer came up with the figures of 71,000/ 101,000 /101,000.I think because the money the girls paid back came off the top of the inheritance and the money the son paid back went into the inheritance it is making it hard to figure out. Hope you can help!