What does “Living Lawful Children With Right of Survivorship Per Stirpes” mean?
Per Stirpes is a Latin phrase meaning, “per branch.” It is incorporated into Last Will & Testaments and estate planning as an instruction to pay an equal share of an estate to each “branch” of the testator’s family. Use of “living lawful children with right of survivorship per stirpes” in a beneficiary designation is an instruction to pay the children legally born to or legally adopted by the owner equally; provided however, that if a child of the owner has died before the owner, the share which the child would have received if he or she survived the owner will be paid to his or her legally born to or legally adopted by, children of that deceased child, per stirpes. Stepchildren and Foster Children are not included in this definition. If you have stepchildren, foster children, or are unsure if using this terminology will accomplish your future settlement objective, you may consider specifically naming the specific individuals by name and relationships instead of choosing pre-defined op
