What does per stirpes mean?

George: On a beneficiary form, what does per stirpes mean?

Attorney Chris Merrill: George, per stirpes means to the children; the children of the person.

Attorney Tom Olsen: Colton, let's pat him down, please. Thank you. All right, Chrissy, go on. You're doing great.

Attorney Chris Merrill: Often times on a beneficiary form there's the word per stirpes. Per stirpes is the legal Latin term for the lineal descendants or the children of the particular person that may be filling out the form. We use that term, as a matter of fact, in our will documents when we are, again, also referring to the children and lineal descendants of. It's common to also use those on a beneficiary form.

Attorney Tom Olsen: George, if you're looking at a form, let's say you got four kids and you put on that form "25% of this IRA, life insurance, et cetera, goes to my son Bill," and then after Bill's name it has a box to check per stirpes, if you check per stirpes it means that if Bill, your son, happens to die before you his share is going to his children. His children will take in his place. The other form you could check would say "Not per stirpes" and it means if your son Bill dies before you, then his share is going to the other beneficiaries under that beneficiary form.

George, hopefully, that has answered your question. Thank you for calling, we appreciate it.