per capita

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Related to per capita: Per capita GDP

Per capita.

Per capita is the legal term for one of the ways that assets being transferred by your will can be distributed to the beneficiaries of your estate.

Under a per capita distribution, each person named as beneficiary receives an equal share. However, the way your will is drawn up and the laws of the state where the will is probated may produce different results if one of those beneficiaries has died.

For example, if you specify that your children inherit your estate per capita, in some states only those children who survive you would inherit. In other states your surviving children and the surviving descendants of your deceased children would receive equal shares. That could result in your estate being split among more heirs than if all your children outlive you.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

per capita

Per head; per person. The term is most often encountered in estate planning, where assets may be left to heirs, per capita. In a per capita distribution, a predeceased heir's portion is shared equally among other heirs at the same level.

Example:  Beth leaves $900,000 to her heirs, per capita. She has three children, but two of them die before her. Each child would have received $300,000 if alive. Because the gift was per capita, the money is divided among only the children who survived Beth. In the following diagram, one child will receive the entire $900,000. The grandchildren—children of the predeceased children—receive nothing. Contrast with per stirpes, in which the share belonging to predeceased heirs would go to their own heirs. Using per stirpes distribution in the example, Jill takes only $300,000, Jack's children share $300,000, and Julie's children share

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
GDP per capita ranged from 50% in Bulgaria to 254% in Luxembourg, of EU average Gross Domestic Product (GDP) per capita, a measure of economic activity, also shows substantial differences between the EU Member States.
Based on the World Bank, these countries have a per capita income of $3,896 to $12,055.
The 2017-2022 Philippine Development Plan (PDP) - the medium-term socioeconomic blueprint of the Duterte administration - targets a higher GNI per capita growth rate of 5 percent this 2018 year and 2019.
To be sure, the $30,000 in per capita GNI is welcome news.
At slightly over $12,000 per capita income, a country is treated as a high income nation.
World Bank [14] in its study used the Gross National Income (GNI) variable per capita as an MIT proxy.
The main contributing factors for rise in Per Capita Income are higher real GDP growth, lower growth in population and stability of Pak rupee.
Per capita personal income in New Hampshire last accelerated last year more than in any other state in New England, despite a slight slowdown in income in the United States as a whole.
(2005), in which a study was done in 96 municipalities in Minas Gerais (Southeastern Brazil), it was proved that the per capita income and the Municipal Human Development Index (MHDI) are factors that have high influence on water per capita demand.
9 - The United States - $54,630 GDP (PPP) per capita
Rounding up the top five are Switzerland, Australia and Norway, recording wealth per capita at $285,000, $204,000 and $200,000, respectively.
ISLAMABAD -- The per capita income during the fiscal year 2015-16 has witnessed growth of 2.9 percent during the Fiscal Year 2015-16 and ascend to $1560.7 compared to $1516.8 during the fiscal year 2014-15,