What does in equal shares per stirpes mean?

What does in equal shares per stirpes mean?

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.

Does per stirpes mean equally?

Per stirpes in Latin means “by branch,” meaning, in this case, that a portion of the will must go to a person or that person’s heirs. Per capita means that any surviving descendants of the same generation distribute property equally.

What does in equal shares mean in a will?

This term, derived from the civil law, is much used in the law of descents and distribution, and denotes that method of dividing an intestate estate where a class or group of distributees take the share which their stock (a deceased ancestor) would have been entitled to, taking thus by their right of representing such …

Is per Stirpes a good idea?

So, attorneys should use the term “per stirpes” only in the context of descendants and not go rogue by using “children, per stirpes” or “siblings, per stirpes.” Also, it is a good idea to use a proper definition of “per stirpes” because the term varies in different jurisdictions.

What is an equal share?

On dividing the whole or a group of objects is into equal parts, we get equal shares. We need to divide an object or a whole number into equal parts to distribute it equally. These equal parts have to be the same in measurements like weight, volume, dimensions, numbers etc.

Should I use per stirpes?

Per stirpes is used in different areas of estate planning, including wills and trusts, a retirement account beneficiary designations, and life insurance.

What is issue per stirpes?

“ issue per stirpes ” means that if a child of the deceased predeceases the testator, then in that event, the share “goes down” to the children of the predeceased child, the grandchildren, instead of the surviving children. “ Issue per capita ” means…

What is per capita beneficiary designation?

A per capita beneficiary designation also provides that your primary beneficiary’s share goes to that person’s heirs . However, the allocations are not handled in the same manner as under the per stirpes designation. Should your primary beneficiary predecease you, their share would be divided equally among your successor heirs.

What is equal shares?

Equal Sharing. Definition. Equal sharing is a process of division in which a given quantity of items is separated into a given number of groups so that each group has the same number of items.