I have had a number of clients changing their beneficiaries lately for a variety of reasons. Whenever they name an adult child as a primary or contingent beneficiary, I ask if they want to add Per Stirpes? I am often greeted with a questioning look on their face, what does that mean?
Technically it means: “by branch” or “by roots.” When adding this designation to your beneficiary, when they pass their share of your account will pass down their family line, or to their kids vs. to your other beneficiaries.
It is something to think about when naming beneficiaries.

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