How to settle a confusing estate?
I need some help determining a perplexing problem. It involves an estate that is not just cash, and the assets do not divide into neat little equal packages. No-one wants to sell the house, so adjustments need to be made...
Total estate to be divided into 3 equal shares. Includes a house $200k, an Annuity $231,432, other assets $94051, Total expenses $-18,834. Makes each share approx $156,327. No prob yet-easy stuff.
Now it gets confusing (for me). Party A wants the house as her share, which is valued at $200,000, (in excess of 1 share), but parties B and C are OK with that, no prob as long as the shares equal out. Parties A, B, and C were all named beneficiaries on the annuity, which is already disbursed, but party A renounced her share and split it equally between B and C. Here is my question-how much money will party A have to provide to B and C to make everything fair?
I am having trouble understanding how to credit the annuity money correctly. Annuity breakdown : each party got $77,144, but A never really saw her share, but had the benefit of it and used the funds to partially prepay her total to-be-determined debt to B and C. Total value of annuity was disbursed to B and C in amounts of $115,716 each.
Again, the question is, how much additional funds will need to be provided by A to B and C to make the shares equal to $156,327? AAARRRGGGHHH! I am losing sleep over this and I really need some help!! Thanks a lot.
