Per Stirpes – Spouse Involvement?
A client of ours, Ms. Client, has an IRA and has named her two children, A (per stirpes) & B (per stirpes), as her primary beneficiaries (50% each). Child A is married and has 3 children of her own & Child B is married and currently does not have children but may have one in the future.
My question is: If Child A predeceases Ms. Client, who will get Child A’s share? Will Child A’s surviving spouse receive assets? Will Child A’s share go 100% to her children?
Permalink Submitted by Alan Spross on Wed, 2010-12-08 00:52
A’s share will be split equally by her 3 children, ie each child will receive 1/3 of 50% or 1/6 of the IRA total. Nothing goes to A’s surviving spouse. B’s share is still 50% of the total and is not affected by the death of A.