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southern MN | So, you have great granddad, generation 1. Their health didnt go well, last long?
There were 10 in grand dads generation, generation 2. Some of these really pitched in and kept it together for all. There are 5 living now.
Your dad and others in generation 3
You are part of generation 4.
You have kids so some generation 5 as well.
You said when your grand dad gen 2 passed the full 1/10 of the property passed to your dad gen 3.
Then as more of generation 2 passed - the other 4 - where did their assets go? They could have gone to siblings only, meaning your dad still holds only the 1/10 he got from his dad. If generation 2 is sharing upon death with only generation 2 survivors. The next one to die would be distributing their assets among the remaining 4, 1/4th to each.
Or, are they sharing with each of the heirs of the 10 siblings, always distributing stuff in 10 parts to the living siblings and eldest living heir of the dead ones?
Can go either way, that is where these things get very messy. Sometimes taxes get paid so the govt does t care, and things don't really get recorded at the courthouse, and some assume it happened one way, others assume it happened a different way, and then it really blows up.
Does your dad have 1/10 share, or 2/10 at this point?
Paul | |
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Estate planning or lack thereof
