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 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 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 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 means if a Beneficiary is deceased, their percentage is allocated equally to his or her descendants.
More Definitions of Per stirpes
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, Xxxxxx’x 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 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 is used herein, the stirpes shall begin in the generation of the grantors.
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 a distribution or division of such assets into equal shares, one for each of such persons children then surviving and one for each of such person's deceased children leaving issue then surviving; the share for each of such person's deceased children leaving issue then surviving shall be divided into shares for such deceased child's issue in the same manner. 5A(1)(c)(vi)
Per stirpes means thatthe shares of the descendants725of a devisee who does not survivethe testator are determined in726the same way they would have beendetermined under division (A)727of section 2105.06 of the RevisedCode if the devisee had died728