what does per stirpes mean in a trust
Per stirpes Per stirpes (/pɜːr ˈstɜːrpiːz/; "by branch") is a legal term from Latin. An estate of a decedent is distributed per stirpes if each branch of the family is to receive an equal share of an estate. When the heir in the first generation of a branch predeceased the decedent, the share that would have been given to the heir would be distributed among the heir's issue in equal shares. It may also be known as right of representation distribution, and differs from distribution per capita, as members of the same generation may inherit different amounts.[1]
Unit Trust of India UTI Mutual Fund was carved out of the erstwhile Unit Trust of India (UTI) as a SEBI registered mutual fund from 1 February 2003. The Unit Trust of India Act 1963 was repealed, paving way for the bifurcation of UTI into â€“ Specified Undertaking of Unit Trust of India (SUUTI); and UTI Mutual Fund (UTIMF).