Share and share alike refers to the distribution of assets in equal proportions. This distribution could involve the equal division of benefits from trusts, gifts, or real estate. This also includes the right of survivors in which they are at the liberty to distribute the beneficiary’s portion if he or she dies before the gift is received.
Share and share alike can also mean engaging in per capita division. Under this arrangement, the division is usually made equally between people belonging to the same class.
Let's say, for example, that a testator states in his will that his 3,000 shares in Apple Inc. must be divided equally between his four nephews. If one of the nephews dies before the testator, then the remaining shares will be divided equally among the three surviving nephews.