need formula for dividing estate between children?
- Nuff SedLv 71 month ago
It would typically be equal shares "to my children and their heirs", although you could specifically name each one, give a different share to each, and even disinherit one of them or your grandchildren, if you prefer. Your local estate-planning attorneys would be happy to help you work out the details to your satisfaction.
- Christin KLv 71 month ago
If you're dividing things equally, it's a pretty simple formula--all assets get split into whatever the number of children you have is--three kids, three parts. If there is some OTHER division you want to make, you'll have to forego the formula--and you do NOT have to justify anything in a will. You simply leave whatever you wish each child to have in writing when you make the will. Unless you provide more info about what it is you're dividing up, and why, that's the only advice you can get here.
- SCATTY cLv 61 month ago
Not quite sure what you are asking here. Most people share their estate equally between the number of kids they have.
If you want something different, then you need correct legal advice.
- SlickterpLv 71 month ago
Amount of money in the estate divided by the number of kids.
- What do you think of the answers? You can sign in to give your opinion on the answer.
- Coffee DrinkerLv 71 month ago
There is no standard formula.
Most people split their estate equally among children. For example my wife's grandparents had 5 children, so each child got 20% of their estate.
I know of another couple that included grandchildren as well, with 50% for their kids and 50% for grand kids, each share divided equally. They had 3 kids and 6 grand kids so each child got 1/6th and each grandchild got 1/12th.
I've heard of people writing a will that forgives debts owed by their kids or compensates some kids for unequal financial support they may have received during their lifetime. This can get complicated but can help make things "fair" if the parents helped one child more than others during their lifetime.
- babyboomer1001Lv 71 month ago
There is no formula. Most people give (their estate) to their children equally. Occasionally, if a child is a drug addict or is estranged from the parents or has generally been a greedy ***** for years, or has been in and out of jail, those kids are often written out of the Will. But if they are all good kids, they should be treated fairly and equally.Source(s): Certified Paralegal, with 25+ years' experience & with Wills & Estates law experience.
- SlumlordLv 71 month ago
Why don't you give them all an equal share? So the formula is 100 / # kids = % of estate to each kid.
- SimplytheFACTSLv 71 month ago
if there are 5 kids 100% divided by 5 = 20% each
- Lisa ALv 71 month ago
The formula is whatever the person leaving the estate decides.
In a happy, functional family, it would be divided equally between the children.