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The family home - estimated market value is $ 1 0 5 , 0 0 0 . 0 0 A . Mom ( Pearl )
The family home estimated market value is $
A Mom Pearl died first in She owned a interest in the family property, which to day has a total market value of $
B Pearl's interest was inherited in proportional shares by her five kids: Lois, Lawr ence, Jr Cornell, Calvin, and Clarence.
C Dad Lawrence Sr died. He owned a interest in the family property, which today h as a total market value of $
D Shortly after dad died, an heir, Clarence, died. Clarence had no children so his four sibling s inherited his interest in his mom and dad's interest in the family property.
E First, Mom owned a interest. Dad owned a interest. They died, so their children i nherited from mom's side and from dad's side. Then, Clarence died. His interest in mom's side goes to his surviving siblings. His interest in dad's side goes to his surviving siblings.
F It gets interesting. Cornell and Calvin are renouncing gifting their interest in the propert y to their sister, Lois.
G I have two questions: When Clarence died, what percentage, fractional value and mon etary value will each surviving heir get from mom's side and from dad's side, What per centage, fractional value and monetary value will Lois and Lawrence Jr each own after Cornell and Calvin renounce gift their interest to her? Remember, when Clarence died, hi s interest went to all siblings. Then, Cornell and Calvin renounced their interest to Lois, a nd What percentage, fractional value and monetary value will Lois and Lawrence, Jr own in the end?
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