Beneficiary
1. How much money each beneficiary receives if the jurisdiction follows the rule that “issue” means "per stirpes"; How much money each beneficiary receives if the jurisdiction follows the rule that “issue” means "per representation"
In estate planning, “per stirpes” means that if the beneficiaries are to share a distribution, then the closest living members in the class of beneficiaries will receive an equal amount of the deceased shares. Under the "per stirpes" distribution, the deceased’s estate is to be divided by the number of living or surviving members closest in relation to the deceased. Each of the living members takes their equal share, and any shares of a deceased member will drop down to the following generation. The same process is then repeated to that generation, and the share is then divided by the number of living who are either alive or are survived by issue (person's children or other lineal descendants such as grandchildren and great-grandchildren). This process will continue down the family tree until all of the shares are taken.
In this family’s situation Samantha will get a third of her fathers shares as a sole surviving child ($66,666.66). Steve, her brother has his 1/3 of his fathers shares divided by the four of his surviving children. Johns grandchildren (Don, Donna, Doug, and Derek) will get equal shares of their fathers 1/3, which means that they will get 1/12th ($16,666.665 each) of the share each. Tina's 1/3 will also go to her children as she is also deceased. Alicia and Allison, Tinas children and johns grandchildren will both equally get 1/6 of the 1/3 of their mothers share which would equal out to be $33, 333.33.
2. How much money each beneficiary receives if the jurisdiction follows the rule that “issue” means "per representation"
However, if a member of the beneficiaries who is closest in relationship to the deceased is survived by any descendants, then that deceased beneficiary’s descendants will take “by
In estate planning, “per stirpes” means that if the beneficiaries are to share a distribution, then the closest living members in the class of beneficiaries will receive an equal amount of the deceased shares. Under the "per stirpes" distribution, the deceased’s estate is to be divided by the number of living or surviving members closest in relation to the deceased. Each of the living members takes their equal share, and any shares of a deceased member will drop down to the following generation. The same process is then repeated to that generation, and the share is then divided by the number of living who are either alive or are survived by issue (person's children or other lineal descendants such as grandchildren and great-grandchildren). This process will continue down the family tree until all of the shares are taken.
In this family’s situation Samantha will get a third of her fathers shares as a sole surviving child ($66,666.66). Steve, her brother has his 1/3 of his fathers shares divided by the four of his surviving children. Johns grandchildren (Don, Donna, Doug, and Derek) will get equal shares of their fathers 1/3, which means that they will get 1/12th ($16,666.665 each) of the share each. Tina's 1/3 will also go to her children as she is also deceased. Alicia and Allison, Tinas children and johns grandchildren will both equally get 1/6 of the 1/3 of their mothers share which would equal out to be $33, 333.33.
2. How much money each beneficiary receives if the jurisdiction follows the rule that “issue” means "per representation"
However, if a member of the beneficiaries who is closest in relationship to the deceased is survived by any descendants, then that deceased beneficiary’s descendants will take “by