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share and share alike

adj. referring to the equal division of a benefit from an estate, trust or gift, which includes the right of the survivors to divide the portion of any beneficiary who dies before receiving the gift. Example: Teal Testator wills her 2,000 shares of IBM stock "to my four nephews, Matthew, Mark, Luke and John, share and share alike." Luke dies before Testator, so the 2,000 shares will be divided among the three surviving nephews.

The People's Law Dictionary by Gerald and Kathleen Hill Publisher Fine Communications