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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 .
Example of per stirpes: Let’s say you have three beneficiaries (A, B and C), and each is set to receive an equal portion of a $300,000 death benefit. That means each beneficiary would receive ...
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 ...
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 ...
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Where the surviving spouse does not stand to inherit, and unless the will indicates otherwise, the renounced benefit must devolve on the descendants of that descendant per stirpes. The effect of adiation is that the heir or legatee acquires a vested personal right against the executor for delivery of the asset once the estate has been liquidated.
Intestacy has a limited application in those jurisdictions that follow civil law or Roman law because the concept of a will is itself less important; the doctrine of forced heirship automatically gives a deceased person's next-of-kin title to a large part (forced estate) of the estate's property by operation of law, beyond the power of the deceased person to defeat or exceed by testamentary gift.
Spouses: Some states require community property — that is, property shared between spouses — to be put toward debt when a spouse dies. These states include Arizona, California, Idaho ...