Friday, April 15, 2022

Simple Per Capita Estate Planning Distributions

estate planning attorney Ann Arbor

Per capita is a Latin phrase that translates to “by head.”
  This equalizes the shares per designated class.  

In this method of distribution, each child receives a share, and the remaining shares are divided equally among the surviving descendants of the deceased child(ren), within each generation.  

Using the previous example, Child 2 would receive a one third share of the estate, then the remaining third share of Child 1 and Child 3, or two thirds of the  total estate, would be divided equally between the grandchildren, giving each grandchild an equal 2/15 share of the estate.  

Discuss how the different distribution methods can affect distribution of your estate with your estate planning attorney.  

Learn more about simple per capita estate planning distributions here.

Get Started Today: Schedule Your Consultation!


If you’re interested in learning more about estate planning, please contact estate planning attorneys in Ann Arbor at 734-665-4441.


Friday, April 1, 2022

Per Stirpes Estate Planning Distributions

estate planning attorney Ann Arbor

Per stirpes is a Latin phrase that translates to “by roots” or “by branch.” Each member of a specific class receives equally, with the share of a deceased member divided proportionality among his or her children.
 

Under the Estate and Protected Individuals code, there’s an allocation at each generation even if there’s no living member of that generation, as opposed to a distribution beginning at the first generation with a living member. 

Here’s an example:

If a Decedent has three children, Child 1 has  two children, and Child 3 has three children. Child 1 and Child 3 predecease the Decedent, and the Trust or Will requires a per stirpes distribution. The estate will be divided into 3 equal shares. The children of Child 1 would each get half of Child 1’s share, ultimately being a one-sixth share of the Decedent’s total estate. The children of Child 3 would each receive one third of Child 3’s share, being a one-ninth share of the Decedent’s estate, and Child 2 – who is still living, but has no children – would receive one third of the total estate.  

Discuss how the different distribution methods can affect distribution of your estate with your estate planning attorney.

Learn more about per stirpes estate planning distributions here.   

Get Started Today: Schedule Your Consultation!


If you’re interested in learning more about estate planning, please contact estate planning attorneys in Ann Arbor at 734-665-4441.