Examples of Per stirpes in a sentence
Per stirpes is a method of distributing the assets should a beneficiary predecease the account holder.
Per stirpes will be construed and defined according to the laws of the Commonwealth of Massachusetts in force at the time of death of the depositor.
Enacted by Chapter 39, 1998 General Session 75-2-709 Definitions -- Representation -- Per capita at each generation -- Per stirpes.
Consult an attorney if you have any questions about these definitions.• If you indicate per stirpes or per capita for a named beneficiary, Schwab will require the Authorized Party (named in Section 6) to certify the identity of the per stirpes/per capita beneficiary( ies) prior to distributing your assets.• Per stirpes and per capita are options for individual beneficiaries only; for trusts or organizations (such as charities), designate only a percentage.
Per stirpes refers to a distribution where shares are determined by the number of individuals in the first generation, even if they have all predeceased the intestate.) For example, assume that Grandfather had three children; two predeceased.