WHAT DOES "PER STIRPES" MEAN IN FLORIDA? © Cynthia Crofoot Rignanese, Esquire (2023)

The Quick Answer:

It means that your will gives assets to “Your Kids’ kids!”

Prelude:

Lawyers often must use legal terminology, and some of it is based in Latin, such as “per stirpes.” I do not use this term to be confusing, or to create job security. I use it because it is a legally defined term that is precise.

When it comes to legal matters, understanding the terminology can be challenging. One such term commonly used in estate planning and inheritance laws is "per stirpes." If you are a resident of Florida, it is important to know what this term means and how it can impact your family's inheritance. In this blog post, I will explain the meaning of "per stirpes" and its significance in Florida.

What is "Per Stirpes"?

"Per stirpes" is a Latin term that translates to "by the roots" or "by representation." In the context of inheritance, it refers to a way of distributing assets among descendants when the intended recipient is unable to inherit. This situation usually arises when the primary beneficiary has passed away before receiving their share of the inheritance.

Distribution of Assets:

In Florida, the "per stirpes" principle determines how assets are distributed when a primary beneficiary cannot inherit. Imagine John, a Floridian, has a will that says his bank account should be divided equally among his two children, “Sarah and Michael, per stirpes”. Unfortunately, before John's passing, Michael passed away.

Using the "per stirpes" rule, John's assets would be divided into two equal shares of 50% each. Sarah, being alive, would receive one share. Michael's share, instead of being lost, would pass on to his children in equal proportions. If Michael has five (5) kids, each will get 10%. So five (5) shares at 10% equals his initial 50% inheritance.

Protecting Future Generations:

The concept of "per stirpes" aims to protect the interests of future generations. By ensuring that a deceased beneficiary's share is transferred to their own descendants, it helps maintain fairness within a family's inheritance.

Consulting an Estate Planning Attorney:

Navigating the complexities of inheritance laws and understanding the implications of "per stirpes" can be challenging. If you have questions or concerns about how this rule may affect your estate planning or inheritance, it is advisable to consult an experienced estate planning attorney, such as myself. I can guide you through the legal process, offer personalized advice, and ensure your wishes are properly documented in your will.

Conclusion:

"Per stirpes" is an important term to understand when it comes to estate planning and inheritance. By knowing its meaning and implications, you can make informed decisions regarding the distribution of your assets and ensure your loved ones are taken care of according to your wishes. Remember, seeking professional legal advice is always a wise step to ensure your estate planning aligns with the laws and regulations of Florida.

© 2023 by Cynthia Crofoot Rignanese, Esquire - Practicing Law Locally Since 1991 (863- 294-1114)