1 / 6

Per Stirpes v. per capita v. michigan

Per Stirpes v. per capita v. michigan. Per Capita Distribution. Abe (decedent). Selma. Patty. Homer ( dec. ). 1/5. 1/5. Bart. Lisa. Maggie. 1/5. 1/5. 1/5. Per Capita, or per person means that all that receive a distribution get an equal share. Per Stirpes Distribution.

jag
Download Presentation

Per Stirpes v. per capita v. michigan

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Per Stirpes v. per capita v. michigan

  2. Per Capita Distribution Abe (decedent) Selma Patty Homer (dec.) 1/5 1/5 Bart Lisa Maggie 1/5 1/5 1/5 Per Capita, or per person means that all that receive a distribution get an equal share.

  3. Per Stirpes Distribution Abe (decedent) Patty Selma Homer (dec.) 1/3 1/3 Bart Lisa Maggie 1/9 1/9 1/9 This is also know as by representation distribution. Note that Bart, Lisa and Maggie, split Homer’s share because he is deceased (1/3 divided by 3 = 1/9).

  4. Per Capita Distribution(complex version) Abe(decedent) (dec.) Patty Selma Homer(dec.) 1/6 Bart Lisa Maggie MacGyver Jub-Jub 1/6 1/6 1/6 1/6 1/6 Per Capita, or per person means that all that receive a distribution get an equal share.

  5. Per Stirpes Distribution(complex version) Abe (decedent) (dec.) Selma Homer (dec.) Patty 1/3 Bart Lisa Maggie MacGyver Jub-Jub 1/9 1/9 1/9 1/6 1/6 Per Stirpes, children still share their deceased parent’s portion. MacGyver and Jub-Jub split Patty’s 1/3 two ways (1/6 each) and Bart, Lisa and Maggie split Homer’s 1/3 three ways (1/9 each).

  6. Michigan’s Per Capita at each generation(complex version) Abe (decedent) Patty (dec.) Selma Homer (dec.) 1/3 Bart Lisa Maggie MacGyver Jub-Jub 2/15 2/15 2/15 2/15 2/15 At each generation, beneficiaries/heirs get the same amount as each other. When someone in that generation is deceased, all the remaining $ gets put Into a “bank” and redistributed evenly at the next generation until none are deceased. 2/15 x 5 = 2/3 (10/15). This represents the 2/3 left over because Patty and Homer are deceased.

More Related