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]
Standard Oil In response to state laws trying to limit the scale of companies, Rockefeller and his associates developed innovative ways of organizing, to effectively manage their fast growing enterprise. On January 2, 1882,[14] they combined their disparate companies, spread across dozens of states, under a single group of trustees. By a secret agreement, the existing 37 stockholders conveyed their shares "in trust" to nine trustees:[15] John and William Rockefeller, Oliver H. Payne, Charles Pratt, Henry Flagler, John D. Archbold, William G. Warden, Jabez Bostwick, and Benjamin Brewster.[16] This organization proved so successful that other giant enterprises adopted this "trust" form.