Per stirpes definition
Per stirpes means that the shares of the descendants of a devisee who does not survive the testator are determined in the same way they would have been determined under division (A) of section 2105.06 of the Revised Code if the devisee had died intestate and unmarried on the date of the testator's death.
Per stirpes means in equal shares among living children of the person whose issue are referred to and the issue (taken collectively) of each deceased child of such person, with such issue taking by right of representation of such deceased child; and
Per stirpes means that the shares of the descendants of a beneficiary who does not survive the distribution date by at least one hundred twenty hours are determined in the same way they would have been determined under division (A) of section 2105.06 of the Revised Code if the beneficiary had died intestate and unmarried on the distribution date.
Examples of Per stirpes in a sentence
Per stirpes and per capita distributions are limited to your named beneficiary's( ies') children and no further descendants.
Per stirpes is a method of distributing the assets should a beneficiary predecease you.
Per stirpes" means in equal shares among living --------------------- children of the person whose issue are referred to and the issue (taken collectively) of each deceased child of such person, with such issue taking by right of representation of such deceased child.
More Definitions of Per stirpes
Per stirpes means in equal shares among living children of the person whose issue are referred to and the issue (taken collectively) of each deceased child of such person, with such issue taking by right of representation of such deceased child; and "survive" and "surviving" mean living after the death of the Participant.
Per stirpes refers to when certain accounts (e.g., Individual Retirement Accounts and Transfer-On-Death accounts) permit the account owner to designate beneficiaries to receive the account following the death of the owner. On accounts that permit beneficiary designation, a check box appears on the beneficiary designation form that, when checked, serves as the account owner’s direction that, in the event that a beneficiary predeceases the account owner, the deceased beneficiary’s share shall be distributed to his or her lineal descendants by representation (per stirpes). The shares distributable to descendants under a per stirpes beneficiary designation shall be determined by the law of the state of the account owner’s residence at the time of the account owner’s death. Stifel, in its sole discretion, may determine not to make a distribution of the account to per stirpes or other unnamed beneficiaries unless and until Stifel has been instructed by the deceased account owner’s court-appointed personal representative (e.g., execu- tor, administrator) regarding the persons entitled to receive per stirpes distribution and their respective shares. The account owner agrees, on behalf of himself or herself personally and the account owner’s estate, heirs, executors, administrators, successors and assigns, to release, indemnify, defend, and hold harmless Stifel, and its parent, subsidiaries, and affili- ates, and their respective past and present officers, directors, shareholders, employees, agents, affiliates, successors, and assigns, against and from any and all claims or liabilities, taxes, damages, or expenses (including without limitation judgments, amounts paid in settlement, and/or attorney’s fees), of any kind or of any nature whatsoever, that may arise from, or relate to, ▇▇▇▇▇▇’▇ reliance on the per stirpes distribution information provided to it by the account owner’s personal representative.
Per stirpes means that the shares of the descendants of a beneficiary who does not survive the distribution date by at least 120 hours are determined in the same way they would have been determined under R.C. 2105.06(A) (distribution of estate when there is no surviving spouse) if the beneficiary had died intestate and unmarried on the distribution date.
Per stirpes if you want the contingent beneficiary(ies)' share of the ▇▇▇ assets to go to their surviving lineal descendants in the event the last surviving account owner outlives the designated beneficiary or the beneficiary disclaims. When the last surviving account owner has died and we have received all documents required for distribution, we will transfer assets to the following beneficiaries.
Per stirpes means that a Trust Estate divides and passes in equal shares apportioned to or through a Decedent’s living or deceased Descendants sharing the nearest degree of Kinship to the Decedent.
Per stirpes. – shall mean the distribution of any share of the Account Owner or a predeceased Beneficiary shall be made by right of representation, such that each branch of the Account Owner’s or Beneficiary’s direct descendants receives an equal share of the payment, regardless of how many people are in that branch. For example, if A and B are the Beneficiaries, but B is also deceased leaving children C, D, E, F and G, then A would receive one half of the Account and each of B’s five children would receive one-tenth of the Account (essentially, dividing B’s half).
Per stirpes means that the Participant’s assets are divided equally among his or her children. If one of the children dies before the Participant, that child’s share is divided equally among his or her own children.