Family Office Definition: Per Stirpes Designation
Per Stirpes Designation definition: When one beneficiary is deceased, their portion is transferred to their heirs, rather than redistributed to any other beneficiaries named. For example, your son may be named a 50% beneficiary and his portion will go to his children, rather than your daughter who is also named a 50% beneficiary. The difference from Per Capita is that only the amount belonging to the deceased beneficiary is passed to heirs, and the other beneficiaries retain their original planned amount.
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