Per stirpes is a Latin phrase that means "by roots" or "by branch." This phrase generally comes up in the context of estate planning including with wills, beneficiary accounts, and in Florida Intestate Succession to define how your assets should be passed down in the event a beneficiary passes away before you do.
Under a per stirpes distribution system, property is passed down to the deceased person's children, and if a child is no longer alive, their share of the inheritance is passed down to their descendants. This ensures that the deceased's property is distributed among their descendants rather than being absorbed into the estate of the surviving spouse or other relatives.
For example, a deceased person (Henry) has two children, Emma and James. Emma has two children (Chris and Steve), and James has one child (Emily). Emma passes away before Henry and James. Under a per stirpes distribution system, James would inherit 50%, and each of Emma's children would receive a share of the inheritance ( i.e., Emma's share (50%) would be divided among Chris and Steve equally (25% each)).
Don't hesitate to contact our office to answer any questions on per stirpes distribution or any other estate planning questions.
