1. Maureen died intestate leaving an estate after taxes and probate of $700,000. She is survived by her husband, Jack and her two children Adam and Kelly. She is predeceased by her son Mark. All three of her children had three children each. How much does each family member get if they live in Alberta and the estate is distributed per stirpes?
The term per stirpes is commonly used to refer to an individual's assets under a will.
The term refers to every person down a family tree beginning from another person.
In the present case Maureen has 3 children and have 9 grandchildren.
So, Estate value that will accrue to each family member down the family tree as per stirpes rule will be =
Mark = $700000/2 = $350000 and his sons will get $350000/3 = $116667
Adam = $350000/2 = $175000 and his sons will get $175000/3 = $58333.33
Kelly = $350000/2 = $175000 and his sons will get $175000/3 = $58333.33
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