Per stirpes is a Latin phrase that means "by branch." It is also a legal term that may be used for estate planning purposes, such as in a last will and testament. It designates who will inherit assets if a beneficiary passes away before the person who created the will (the testator) dies.

With a per stirpes distribution, the beneficiary's share of the estate will pass to the beneficiary's heirs or descendants.

While the term per stirpes is commonly used to refer to an individual's assets under a will, it is also sometimes used in beneficiary designations within individual retirement accounts (IRAs).