How is per stirpes pronounced?
To begin with, here is the correct pronunciation. It is “per-stir-peas” not “per-stirps”. Now you can feel confident in conversation when talking to your professional team. Next, “per stirpes” is most often used when you are updating your beneficiary designations after your husband’s death.
What does equal shares per stirpes mean?
In the context of wills, intestacy and trusts, it usually means that each branch of a family is to receive a specified share of an estate or a trust fund. For example, Ninah makes a will leaving her residuary estate to her grandchildren living at her death in equal shares per stirpes.
What does per stirpes mean in English?
by branch
Per stirpes, Latin for “by branch,” refers to every person down a family tree beginning from another person. For example, everyone below a mother, such as her children and her great-grandchildren, is included in a branch.
Does per stirpes mean equally?
Per Stirpes Meaning So, if your estate is set up to be distributed “per stirpes” and a Beneficiary dies, each named, living Beneficiary would receive their original portion of your estate. Any heirs of the deceased Beneficiary would split that portion of the inheritance equally.
What does equal shares mean in a will?
living at my death, in equal shares or to the survivor(s) Note This means that if all children are living on the date of death, they will share the benefit equally. If, however, any should die before the date of death, then the surviving children will receive the benefit in equal shares. Example.
What does equal shares per capita mean?
Under per capita, the share of any beneficiary that precedes you in death is shared equally among the remaining beneficiaries. Within a beneficiary designation, per capita typically means an equal distribution among your children. Assume that you had two children.