A per stirpes distribution ensures that everyone who stands to inherit from an estate will inherit equally. This method benefits the children and grandchildren of the deceased estate owner. There are other facts about this type of inheritance that are crucial to know when planning one’s estate in Kentucky.
What per stirpes means
“Per stirpes” translates into the phrase “by branch,” as in the branch of a family. A per stirpes distribution occurs when a beneficiary’s inheritance is passed to the direct descendants after death, and every descendant receives an equal share.
A per stirpes distribution involves dividing the estate into shares that are given to each surviving child or the child’s descendants. If the child is deceased, the share would be split equally and distributed to his or her children.
Complications with the per stirpes distribution
The per stirpes method of distributing an estate plan is designed to ensure that each child and grandchild is treated equally. However, there are exceptional cases, like in regards to adopted or stepchildren, that require some legal research. Every state has laws that determine how a per stirpes distribution is carried out. The definition of this term varies by jurisdiction and must be properly defined before the probate process begins.
Consider many options when distributing your estate
Having a will is important and so is knowing the different types of wills. An estate that is distributed per stirpes means that every branch of the family receives an equal portion. This system of distribution works for some beneficiaries but not for others. It’s highly recommended to consider the consequences of asset allocation when planning any type of estate.