What does the word Stirpes mean in a will?

by branch
Per stirpes is a Latin phrase that translates literally to “by roots” or “by branch.” In the estate context, a per stirpes distribution means that a beneficiary’s share passes to their lineal descendants if the beneficiary dies before the inheritance vests.

What happens with per stirpes if no descendants?

In the pure per stirpes system, the estate is divided into primary shares at the generation nearest to the decedent (the decedent’s children). Any deceased children who have no living descendants are disregarded in determining the number of primary shares.

What is residuary estate mean in a will?

When a person dies and leaves his estate to various parties, the residuary estate is made up of the assets that remain after the specifically devised assets are taken out of the total estate.

What does to my descendants who survive me per stirpes mean?

“To my descendants who survive me, per stirpes.” This option enables you to have your assets distributed equally among your lineal descendants who are blood relatives or legally adopted. If your deceased child has no children, his or her portion of assets will be divided equally among your other surviving children.

Should beneficiaries be per stirpes?

Per stirpes stipulates that should a beneficiary predecease the testator, that beneficiary’s share of the inheritance goes to their heirs. Per capita takes the opposite approach: all inheritance is divided equally amongst the testator’s beneficiaries.

Does per stirpes apply to stepchildren?

Answer:Per stirpes means that if your beneficiary predeceases you, the inheritance is divided equally among his/her lineal descendants. Biological children and adopted children are considered lineal descendants; stepchildren are not.

Does residuary estate include property?

What is meant by ‘Residuary Estate’ in a Will? The Residuary Estate is the property that remains in a deceased person’s estate after all specific gifts have been made and all debts, taxes, administrative fees, probate costs and court costs have been paid.

Does residuary estate include House?

Residuary estate distribution always happens after specific gifts are given out. When you make your will, you might say you’d like to give £16,000 to your children, £10,000 to charity, and the rest – the residuary estate, including the house – to your partner.

Which is better per capita or per stirpes?

Per stirpes means that the beneficiary’s inheritance will be passed on to their next-in-line heir, or heirs. Per capita means that the beneficiary’s inheritance would be divided evenly amongst any surviving beneficiaries.