C
cwk1028
Guest
My husband's aunt passed away last year and unfortunately, there was not any will. My father-in-law, my husband's dad, the blood brother of the aunt which passed away was named executor of the estate.(She resided in California)
This aunt passed away without a will. She had no children. Her spouse passed away in 1992. They were married 40+ years. Her husband had 1 child from a previous marriage. Aunt Clara never legally adopted this child.
We have been told by our current attorney that this child is entitled to 1/2 of the community property. We understand
that part of the scenario. But our only question, actually, is regarding 50% of what? My husband's aunt owned the house in which she lived and she was debt free upon her death.
The house was sold, none of the heirs to the estate wanted to purchase the real estate. All the necessary probate
documents were processed. The lawyer states that he, husband's son, would be entitled to 50% of the gross real estate appraised value. However, The house was originally appraised at $120,000 but was listed and sold for $130,000. The sale price does not include the real estate's commission, title fees, inspection fees, and the other misc fees which were incurred by the estate to sell the property. That is strictly the "gross figure". He is entitled to 50% of the $130,000 but bears no cost of the sale of the property? Is the estate itself or the other heirs bear the costs which were incurred in the sale of the house and "the son" realize $65,000? Would his calculation be derived from the net proceeds of the sale versus the sale price?
Any information would be appreciated. Are there any worksheets which exists to derive this calculation?
This aunt passed away without a will. She had no children. Her spouse passed away in 1992. They were married 40+ years. Her husband had 1 child from a previous marriage. Aunt Clara never legally adopted this child.
We have been told by our current attorney that this child is entitled to 1/2 of the community property. We understand
that part of the scenario. But our only question, actually, is regarding 50% of what? My husband's aunt owned the house in which she lived and she was debt free upon her death.
The house was sold, none of the heirs to the estate wanted to purchase the real estate. All the necessary probate
documents were processed. The lawyer states that he, husband's son, would be entitled to 50% of the gross real estate appraised value. However, The house was originally appraised at $120,000 but was listed and sold for $130,000. The sale price does not include the real estate's commission, title fees, inspection fees, and the other misc fees which were incurred by the estate to sell the property. That is strictly the "gross figure". He is entitled to 50% of the $130,000 but bears no cost of the sale of the property? Is the estate itself or the other heirs bear the costs which were incurred in the sale of the house and "the son" realize $65,000? Would his calculation be derived from the net proceeds of the sale versus the sale price?
Any information would be appreciated. Are there any worksheets which exists to derive this calculation?