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No. Think of 'per stirpes' distribution as distribution that follows a branch of a family by descent. For example, suppose William died and by the terms of his will William's estate was to be distributed in equal shares to his three daughters, Mary, Judith and Sarah 'per stirpes".
Mary received one-third. Judith received one-third. Sarah predeceased her father and left two living daughters, Paula & Janet. One other daughter, Samantha, had predeceased her mother (Sarah). Samantha left two sons, Sean and Patrick.
Sarah's one-third would be evenly divided between her three daughters: Paula, Janet and Samantha. Samantha's share would be evenly divided between her two sons: Sean and Patrick.
Although the formula may vary in different jurisdictions (some will divide the estate equally among all the living 'per stirpes' descendents) , no spouses would be included in the distribution.
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How is per stirpes used in a will?
An estate of a decedent is distributed per stirpes if each branch of the family is to receive an equal share of an estate
Is per stirpes only blood relatives?
yes
What is Per stirpes with regard to life estates?
Per stirpes is a method of distributing property or assets. In the context of life estates, per stirpes means that upon the death of the life estate holder, the property or assets will be passed down to their descendants in equal shares. If a descendant has already passed away, their share will be distributed to their own descendants. This method ensures that the property or assets are distributed among the descendants of the life estate holder.
How should a per stirpes clause be worded in your will?
Per Stirpes - is a legal term in Latin. An estate of a decedent is distributed per stirpes, if each branch of the family is to receive an equal share of an estate. When the heir in the first generation of a branch predeceased the decedent, the share that would have been given to the heir would be distributed among the heir's issue in equal shares. It may also be known as right of representation distribution, and differs from distribution per capita as members of the same generation may inherit different amounts.
What is meant by per stirpes?
Per stirpes is Latin for 'by branch.' It is used in wills to indicate that testimentary gifts are to be divided by family branch, not number of individuals. It is usually done where one of the first listed beneficiaries has died and their share is to be divided between their descendants.
What if your step brother is gay and had no children He is an hier to an estate and the will says per stirpes you understand how per stirpes But can he will his portion to an outsider non family membe?
First of all, it would depend on the laws of the state. Secondly, being gay has no bearing on this situation. There was no reason to include that in the question.
What is per stripes?
Per stirpes (pronounced /pɝː ˈstɝːpiːz/ "by branch") is a legal term in Latin. An estate of a decedent is distributed per stirpes, if each branch of the family is to receive an equal share of an estate. When the heir in the first generation of a branch predeceased the decedent, the share that would have been given to the heir would be distributed among the heir's issues in equal shares. It may also be known as right of representation distribution, and differs from distribution per capitaas members of the same generation may inherit different amounts.
What is the opposite of per stirpes?
Per capita is generally held to be the opposite of per stirpes. Both are terms most commonly used in reference to the division of an estate. Per stirpes is more commonly used in estate planning since the share of a deceased beneficiary would pass to their issue, if any.Per capita means "by the head count"; in a per capita distribution each living heir in the group receives an equal share in the estate. For example, if parent left an estate to three children per capita and each survived, each would receive one-third. If one of the three was deceased at the time of death of the testator the remaining two would each take one-half. In a per capita distribution a share isn't created for a deceased member.Per stirpes means "by branch". In a per stirpesdistribution the three children above would each take one-third. Now suppose again that one had predeceased the testator. If that child had children, those children would take the deceased parent's one third share equally. In a per stirpes distribution a share is created for a deceased member if they have issue (children).
What does per stirpes mean?
http://en.wikipedia.org/wiki/Per_stirpes Basically, if I have two siblings, we each have two children, and I die before my parents but my siblings and my children survive them, my children would take the equal share I would have received had I survived.
What does the term 'per stirpes' mean?
'Per stirpes' is a Latin term used in inheritance law to describe how assets should be distributed among a deceased person's descendants. It means that each branch of the family receives an equal share of the estate, with the share of a deceased person in that branch passing to their descendants.
What if beneficiary listed are parents spouse and children Does per stirpes will effect on parents the deceaseds siblings will received part of the estates also by default?
Say you have a wife and three grown children. The children are Joe, Sue, and Bob. You have a per stripes provision in your will. Bob has a daughter Jane. Bob dies. When you die, because you have the per stirpes provision in your will, Jane gets Bob's share. Since it is so easy to add two words to your will, there is no reason not to add them.
How much money can you as a gift before you have to pay taxes?
$13,000 per person per donee. Unlimited amounts to spouses.
