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When creating an estate plan, one of the most basic documents you may wish to include is a will. Both a will and a trust can specify how you want assets distributed among your beneficiaries.
Per stirpes (/ p ɜːr ˈ s t ɜːr p iː z /; "by roots" or "by stock") [1] [a] is a legal term from Latin, used in the law of inheritance and estates. An estate of a decedent is distributed per stirpes if each branch of the family is to receive an equal share of an estate in accordance with their deceased ancestor's share. [ 3 ]
Per capita distributes the death benefit equally among the surviving beneficiaries. If a beneficiary dies, their share is divided among the remaining living beneficiaries, rather than going to the ...
Per stirpes: This payout method may be useful if a named beneficiary dies before the policyholder or before the payout can be distributed. Instead of the entire life insurance payout going to the ...
A per quod statement is typically used to show that specific acts had consequences which form the basis for the legal action. per se: by itself Something that is, as a matter of law. per stirpes: by branch An estate of a decedent is distributed per stirpes, if each branch of the family is to receive an equal share of an estate. periculum in mora
Per capita is a Latin phrase literally meaning "by heads" or "for each head", and idiomatically used to mean "per person". The term is used in a wide variety of social sciences and statistical research contexts, including government statistics, economic indicators , and built environment studies.
The South African law of succession prescribes the rules which determine the devolution of a person's estate after his death, and all matters incidental thereto. It identifies the beneficiaries who are entitled to succeed to the deceased's estate, and the extent of the benefits they are to receive, and determines the different rights and duties that persons (for example, beneficiaries and ...
However, you can typically name successor beneficiaries on assets or accounts, and/or specify beneficiary interests to be handled either per-stirpes or per-capita.It’s important to note that ...