Michigan  |  Wills and Trusts

Legal Question

Asked on: 9/14/07, 5:52 pm

Division of Proceeds from Estate

My mother died leaving a savings account, one old car (in her name only) and 5 children. Savings account proceeds were split equally 5 ways. Mom didn't mention the car in her will. The executor said any child could buy the car for $400, have the amount deducted from their share of the savings account proceeds and the $400 would be divided among the other 4 children. Child #1 agreed and had $400 removed from their share in exchange for the vehicle. Each of the remaining 4 were given $100 extra. Child #1 now says the $400 should be split 5 ways, not 4 because it is part of the division of proceeds from the estate. Child #1 bought the car for $400 and now wants $80 back (400/5) making the actual purchase price $320, not the agreed upon price. Should the $400 have been divided 5 ways? Or, did Child #1 actually buy a share of the car from #2,3,4, and 5 entitling them to the extra $100?

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