Related Definitions
What is an Inheritance?
The assets or property received by heirs or beneficiaries from the estate of a deceased person.
The process of receiving assets, property, or rights from a deceased person’s estate, either through a will or by operation of law under intestacy statutes. Inheritance can include real estate, personal belongings, financial accounts, and other valuables. The distribution of inheritance may be subject to taxes, debts, and specific terms outlined in the decedent’s will or applicable laws.
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