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.
The two terms are per stirpes and per capita. Per stirpes means the estate is divided among branches of the family based on equal shares per branch, while per capita means the estate is divided equally among all lineal descendants regardless of their branch in the family tree.
"Per" is short for "by" or "through" and is often used to indicate who is sending the letter on behalf of someone else or a company. It is commonly used in formal or business correspondence to clarify the sender's position or authority.
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An estate of a decedent is distributed per stirpes if each branch of the family is to receive an equal share of an estate
yes
That means a testator granted a life estate and when the life estate holder does the property is to be distributed per stirpes to the descendants of the testator.See related question for definition of per stirpes.
In a per stirpes distribution, stepchildren are typically not included unless explicitly mentioned in the will or estate plan. Per stirpes means that the estate is divided equally among branches of the family, and only biological or legally adopted children of the deceased typically inherit. If a stepchild has been legally adopted by the deceased, they would be treated as a biological child for distribution purposes. Otherwise, stepchildren do not have a claim to the estate under standard per stirpes rules.
Yes, a per stirpes beneficiary can be a trust. In this context, "per stirpes" refers to a method of distributing an estate where a beneficiary's share is passed down to their descendants if they predecease the testator. If a trust is named as a beneficiary and one of its beneficiaries passes away, the trust can distribute the inherited assets according to its terms, potentially to the deceased beneficiary's descendants.
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.
One per stirpes practice problem involves distributing an estate among grandchildren when a child predeceases the testator. Another example is determining how assets are divided among descendants when there are multiple branches of the family tree. These scenarios can help clarify how per stirpes distribution works in inheritance situations.
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.
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.
'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.
The two terms are per stirpes and per capita. Per stirpes means the estate is divided among branches of the family based on equal shares per branch, while per capita means the estate is divided equally among all lineal descendants regardless of their branch in the family tree.
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.