18:51
medicine is a scam
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
in stirpes
Read a random definition: discretionary account
A quick definition of in stirpes:
Term: IN STIRPES
Definition: When someone dies and leaves behind property or money, their descendants (children, grandchildren, etc.) may inherit it. If the inheritance is divided in stirpes, it means that each branch of the family (each child and their descendants) will receive an equal share of the inheritance based on their deceased ancestor's share. For example, if a grandparent dies and leaves behind $100,000 to be divided in stirpes between their two children and their grandchildren, each child would receive $50,000, and the grandchildren would split their parent's share equally. This is different from per capita, where each person would receive an equal share regardless of their relationship to the deceased.
A more thorough explanation:
Definition: In stirpes means proportionately divided between beneficiaries according to their deceased ancestor's share. It is also known as per stirpes, which is a Latin term meaning "by roots or stocks."
Example: Let's say a person named John has three children: Tom, Sarah, and Emily. John passes away, and in his will, he leaves his estate to his children in stirpes. Tom has two children, Sarah has three children, and Emily has one child. When the estate is divided, Tom and his two children will receive one-third each, Sarah and her three children will receive one-third each, and Emily and her child will receive one-third each. This is because the estate is divided proportionately based on the share of their deceased ancestor, John.
This example illustrates how in stirpes works. The estate is divided based on the share of the deceased ancestor, and each beneficiary receives a proportionate share based on their relationship to the deceased.