PER STIRPES V PER CAPITA V MICHIGAN Per

PER STIRPES V. PER CAPITA V. MICHIGAN

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

Per Stirpes Distribution Abe (decedent) Patty 1/3 Selma Homer (dec. ) 1/3 Bart 1/9 Lisa 1/9 Maggie 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).

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

Per Stirpes Distribution (complex version) Abe (decedent) Patty Selma (dec. ) Homer (dec. ) 1/3 Mac. Gyver 1/6 Jub-Jub 1/6 Bart 1/9 Lisa 1/9 Maggie 1/9 Per Stirpes, children still share their deceased parent’s portion. Mac. Gyver 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).

Michigan’s Per Capita at each generation (complex version) Abe (decedent) Patty (dec. ) Selma Homer (dec. ) 1/3 Mac. Gyver 2/15 Jub-Jub 2/15 Bart 2/15 Lisa 2/15 Maggie 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.