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  1. #1
    Join Date
    Dec 2011
    Posts
    1

    Default How to Distribute Proceeds from Sale of Property in Life Estate

    My question involves estate proceedings in the state of: Texas

    In Texas, a man with children remarries but before remarrying he and his future wife jointly buy a house with each contributing half of the purchase price. The man executes a will putting his half of the house in a Life Estate with his wife as Life Tenant and his children as Remaindermen. The man dies and the LT and Remaindermen agree to sell the house. The LT gets half the proceeds and the other half is to be divided between the LT and Remaindermen. Are there any guidelines/rules/standards as to how to divide that remaining half? This is causing a big fight.

  2. #2
    Join Date
    Apr 2009
    Posts
    757

    Default Re: How to Distribute Proceeds from Sale of Property in Life Estate

    There are a number of ways to do the calculation. And they are all dependent upon what factors and assumptions are entered into the calculation. This is not something that you should try at home. Shoot... I would not try it myself at all.

    If the parties cannot arrive at something that "seems right," maybe they can agree to hire an actuary to do it.

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