What to do regarding the division of an estate if one of the named beneficiaries is deceased?
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What to do regarding the division of an estate if one of the named beneficiaries is deceased?
A Will states “I give, bequeath and devise all the rest, residue and remainder of my property of every kind …. to two persons per stirpes.” One of the persons is deceased with a wife living and 2 of 3 children living and 2 children of the deceased child living. My question is concering the distribution of cash which is all remaining in the Estate. I have been told to divide as follows: The person named would get 50% of the cash. The deceased persons heirs would get the other 50% divided with the wife getting 1/2 of the 50%. The other 1/2 would be divided into thirds with each living child getting 1/3 and the 2 chidren of the deceased child getting 1/2 of that remaining third. Is this the correct distribution of funds?
Asked on February 3, 2013 under Estate Planning, Georgia
Answers:
Victor Waid / Law Office of Victor Waid
Answered 11 years ago | Contributor
Are you probating this will or do you have legal probate counsel? If no counsel, then obtain probate counsel to assist you to verify the correctness of the distribution.
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