Let’s Subtract the Money Johnny Got From His Share of the Estate
A father dies without a will leaving an estate of $100,000. Under the laws of intestate succession which apply because there is no will, his 4 children are to receive equal shares of the estate which would be $25,000 each. However, during the 10 years leading up to his death, the father had transferred $20,000 cash in total to his son Johnny thus creating a pre-death transfer. There was no documentation stating whether the $20,000 was a gift or a loan or an advancement against Johnny share of the father’s estate.