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What is the Difference Between "Per Capita" and "Per Stirpes"?

Trusts and Wills often make reference to the Latin legal phrases “per capita” or “per stirpes” (pronounced ‘stir-peas’).  These phrases describe methods for dividing property among an individual’s descendants, and describes what happens when one or more of the...

Do You Only Need a Will?

A “Will” is the backbone of every estate plan.  However, a Will is often insufficient to meet an individual’s entire estate planning needs.  At its heart, every estate plan has as its primary purpose to ensure that a person’s assets are distributed according to that...

Glossary of Types of Trusts

A “trust” is a legal relationship created when one party (the “grantor”) transfers property to another (the “trustee”) to be held for the benefit of other persons (the “beneficiaries”).  The term “trust” commonly refers to a written document such as a “Trust...