QUESTION
How do I read the ten percent of value terminology in a will?
Asked on Aug 20th, 2013 on Estate Planning - Ohio
More details to this question:
If a will reads "I give ten percent of the value of my residuary estate divided into three equal shares" does that mean that each of the three people receive 10% a piece of does it mean that they receive 1/3 of 10%.
22 ANSWERS
Bankruptcy Attorney serving Florissant, MO
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Law Offices of Thomas Corcoran Phipps
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It sounds like 10 percent divided three ways.
Answered on Sep 05th, 2013 at 12:49 PM
I would need to read the whole section to give a good opinion, but from what you have provided it sounds like 10% should be split into thirds.
Answered on Aug 22nd, 2013 at 11:05 AM
It means one third of 10% each.
Answered on Aug 22nd, 2013 at 10:13 AM
Trusts Attorney serving Sacramento, CA
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Law Office of Victor Waid
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Sounds like 1/3 of 10% of the total value of the residue of the estate.
Answered on Aug 22nd, 2013 at 10:12 AM
W ithout having read the document, it sounds as if the the 10% is split into three equal shares.
Answered on Aug 22nd, 2013 at 10:11 AM
Probate Attorney serving Newport, OR
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Minor, Bandonis & Haggerty P.C.
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I read that as 10% of the residue, divided three ways each gets 3 and 1/3 percent. However, the context of the will may give other clues.
Answered on Aug 22nd, 2013 at 10:01 AM
Each is entitled to 1/3 of 10% or the residue of the estate.
Answered on Aug 22nd, 2013 at 9:58 AM
Criminal and General Civil Litigation Attorney serving Warsaw, IN
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Rockhill Pinnick LLP
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You need to take the whole will to an attorney who can then interpret this phrase in context.
Answered on Aug 22nd, 2013 at 9:56 AM
It sounds like you receive 1/3 of 10%.
Answered on Aug 22nd, 2013 at 9:48 AM
Accident Attorney serving Lagrangeville, NY
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Marco Caviglia, Esq.
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My reading from that bare statement is that each gets 3 1/3 percent of the residuary estate.
Answered on Aug 22nd, 2013 at 9:48 AM
Commercial Contracts Attorney serving Boise, ID
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Peters Law, PLLC
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I believe it means 1/3 of 10%.
Answered on Aug 22nd, 2013 at 9:44 AM
Litigation Attorney serving Stockton, CA
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Patrick Jay Edaburn
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I would interpret it as a ten percent share of the estate which is then divided into three shares of 3.33 percent.
Answered on Aug 22nd, 2013 at 9:17 AM
Thomas Edward Gates
Total Estate Value(10%)/3= 1/3 of 10%.
Answered on Aug 22nd, 2013 at 9:13 AM
Taxation Law Attorney serving Glendale, CA
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Irsfeld, Irsfeld & Younger LLP
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Those three each get 3.3333%.
Answered on Aug 22nd, 2013 at 9:10 AM
Appellate Attorney serving Grosse Pointe Farms, MI
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Musilli Brennan Associates, PLLC
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1/3 of 10% of the residua to each of the persons named.
Answered on Aug 22nd, 2013 at 9:10 AM
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That is a good question. It could be interpreted either way. I would look at the rest of the distribution and see if they equal 70% or 90%. That will likely be how a court would interpret it. If it is not clear a petition for instructions will need to be filed or the parties will have to agree on the meaning.
Answered on Aug 22nd, 2013 at 9:05 AM
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It is probably 1/3 of 10%, but the entire Will needs to be read for construction. This information is only intended to give general information in response to an inquiry. It does not establish an attorney client relationship.
Answered on Aug 22nd, 2013 at 9:04 AM
Real Property Law Attorney serving San Francisco, CA
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Law Office of Barbara A. Goode
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It is 1/3 of 10% each.
Answered on Aug 22nd, 2013 at 9:01 AM
Edwin K. Niles
I would read it as 1/3 of 10%, but it?s up to the probate court.
Answered on Aug 22nd, 2013 at 5:59 AM
Business Planning Attorney serving Livonia, MI
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Frederick & Frederick Attorneys at Law
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Without anything else, I would read that to mean 1/3 of 10%.
Answered on Aug 22nd, 2013 at 5:36 AM
The normal interpretation of that vague language would be each of three people get 1/3rd of 10% of the part of the estate not already designated to some beneficiary. If those three individuals all received assets about equal value of the estate designated to heirs, then there would be a stronger argument that each is getting 10%, but I think the prior explanation would still hold.
Answered on Aug 22nd, 2013 at 5:11 AM
Corporate/Business Attorney serving Beachwood, OH
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Christine Sabio Socrates Attorney at Law
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I would interpret as 10% of the residuary estate will be divided up amount three individuals. They would receive 1/3 of a 10% share of the residuary estate.
Answered on Aug 22nd, 2013 at 5:05 AM