Distribution Methods to Descendants

Distribution Methods to Descendants

1. Terminology

   1. Issue = Descendants = children/grandchildren/etc.

2. Methods

   1. Per Stirpes/Right of Representation – traditional common law method of distributing property to Ds

      1. Guiding Principle = follows everything down through family lines (regardless of any inequalities)

      2. Inequalities can exist

         1. E.g., grandkid=only child gets more than grandkid w/siblings; grandkid gets 0 if parent> still alive

      3. True for all Methods:

         1. If all children are living  all children get equal share

         2. If only one child is deceased  that child’s share is divided among his/her children equally

2. Equal Share Method/Per Capita with Representation (CA default)

   1. Guiding Principle = attempt to equalize among grandchildren IF AND ONLY IF all children are deceased – otherwise do not attempt to equalize

   2. Process

      1. Estate divided equally at the first generation in which there are living takers

      2. If any living children  same as Per Stirpes

      3. If ALL kids are deceased  divide shares equally among the next generation of living relatives

         1. This is the only deviation from Per Stirpes

      4. Example

         1. If at least 1 kid livingdistribute shares equally among kids of deceased kids(same>Per Stirp)

         2. If all kids are deceased  aggregate the entire pot and divide it equally among all grandkids

3. Per Capita at Each Generation (UT default)

   1. Guiding Principle = attempt to equalize among grandchildren after living children get their share

      1. Trying to equalize at each generation

   2. Process

      1. Divided into equal shares to surviving descendants of closest generation

      2. Remaining shares combined & divided equally among surviving descendants of next generation

      3. Ex If 1 kid living he gets his share; other shares>combined÷d equally among other g-kids

3. 
   
   Directory: sites -> www.phideltaphi.org -> resource -> collection -> EA88E61A-F827-4590-985B-EC1F412EAE4E
   sites -> Glossary for Chapter 1 Algorithm
   sites -> North Carolina Inclusion Initiative Mapping Where Children with ieps are Being Served Purpose
   sites -> Northern England’s set-jetting locations
   sites -> Physical custody of 1033 program property accountibility form statement of Physical Custody: By signing for the below 1033 property I am a Law Enforcement Officer of the aforementioned Law Enforcement Agency
   sites -> Nstructions for Acquiring Excess Equipment online, through the 1033 Program
   sites -> Memorandum of agreement
   EA88E61A-F827-4590-985B-EC1F412EAE4E -> Jurisdiction over the Parties or Their Property (jop)
   
   
   
   Download 0.86 Mb.
   
   Share with your friends: