Per Stirpes

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DEFINITION of 'Per Stirpes'

A stipulation that, should a beneficiary predecease the testator, the beneficiary's share of the inheritance will go to his or her heirs.

BREAKING DOWN 'Per Stirpes'

While the term per stirpes is commonly used in reference to assets under a will, it is sometimes used in beneficiary designations for retirement accounts.

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RELATED FAQS
  1. Can I put my IRA in a trust?

    You cannot put your IRA in a trust while you are living. You can, however, name a trust as the beneficiary of your IRA and ... Read Full Answer >>
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    Once a revocable trust is created, a trust maker transfers funds or property into the trust by including them in a list with ... Read Full Answer >>
  3. What is the difference between a revocable trust and a living trust?

    A revocable trust and living trust are separate terms that describe the same thing: a trust in which the terms can be changed ... Read Full Answer >>
  4. What is a family Limited Liability Company (LLC)?

    A family limited liability company (LLC) is formed by family members to conduct business in a state that permits such form ... Read Full Answer >>
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