What Does Per Stirpes Mean In Estate Planning?

What Does Per Stirpes Mean In Estate Planning?

A way to distribute assets from an estate “by representation” so that the living members of the generation closest to the person who died will receive the distributions. 

Example: If you have 3 children and 2 grandchildren, your assets would pass equally to your 3 children provided they are all living at your death 1/3 to each and nothing to your grandkids.  If a child, the parent of your 2 grandchildren dies before you, then those 2 grandchildren would share the amount their parent would have received.  Thus, your 2 surviving children would each receive a 1/3 share of your estate and your 2 grandchildren would split the remaining 1/3 of your estate.

Kelley Scrocca, LLM
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