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Per stirpes (/ p ɜːr ˈ s t ɜːr p iː z /; "by roots" or "by stock") [1] 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 .
That means each beneficiary would receive $100,000. However, if beneficiary C dies before you, under per stirpes, beneficiary C’s children would inherit the $100,000 that was originally meant for C.
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 ...
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. When ...
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
The 1580 Ordinance adopted the schependomsrecht distribution per stirpes, restricting it in the case of collaterals to the fourth degree inclusive. Finally, the 1599 Placaat compromised between the two systems with respect to distribution, and gave one half of the estate to the surviving parent, and the other half to the descendants of the ...
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 ...
A beneficiary designation from an insurance product or financial account overrules wishes you state in a will. Wills are malleable documents, subject to interpretation from probate court and ...