Per Stirpes: What it Means and How it’s Used in Estate Planning.

. The Meaning and Uses of Per Stirpes in Estate Planning.

What is a per stirpes Trust?

A per stirpes trust is a trust that is created to provide for the distribution of assets among beneficiaries in the event that one or more of the beneficiaries die before the trust is fully distributed. The trust is structured so that the assets are distributed among the surviving beneficiaries in equal shares, with each beneficiary receiving an equal share of the assets that would have been distributed to the deceased beneficiary.

Does per stirpes go to spouse or children?

The answer to this question depends on the particular terms of the trust or estate in question. Generally speaking, "per stirpes" refers to a distribution of assets in which each beneficiary receives an equal share. However, if the terms of the trust or estate specifically state that the spouse of a deceased beneficiary is to receive their share, then the spouse would receive that share, rather than the children.

Does per stirpes go to siblings?

Yes, under the per stirpes distribution rule, assets are distributed to siblings. This rule is typically used when distributing assets from a trust or estate. Under this rule, each sibling receives an equal share of the assets. If one of the siblings dies before the distribution is made, their share is divided equally among their children.

What are the disadvantages of a will?

There are several disadvantages of a will, which include the following:

1. A will does not take effect until after the death of the person who made it, which means that it cannot help with estate planning or asset protection during that person's lifetime.

2. A will can be contested, which means that it can be challenged in court by someone who disagrees with its terms. This can be a lengthy and expensive process, and it can also result in the will being overturned.

3. A will can be revoked, which means that it can be canceled or changed by the person who made it at any time, for any reason.

4. A will must be probated, which is a legal process that can be time-consuming and expensive.

5. If a person dies without a will, their assets will be distributed according to the laws of their state of residence, which may not be what they would have wanted.

What is lineal descendants per stirpes?

Lineal descendants per stirpes is a legal term that refers to the distribution of assets in a trust or estate. Under this method of distribution, each beneficiary is entitled to an equal share of the assets. However, if one of the beneficiaries dies before the distribution of assets takes place, their share is divided equally among their lineal descendants (i.e. their children, grandchildren, etc.).