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Dictionary:

inheritance

  (ĭn-hĕr'ĭ-təns) pronunciation
inheritance

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n.
    1. The act of inheriting.
    2. Something inherited or to be inherited.
  1. Something regarded as a heritage: the cultural inheritance of Rome. See synonyms at heritage.
  2. Biology.
    1. The process of genetic transmission of characteristics from parents to offspring.
    2. A characteristic so inherited.
    3. The sum of characteristics genetically transmitted from parents to offspring.

 
 

In object technology, the ability of one class of objects to inherit properties from a higher class.



 

All or part of a person's estate/assets that is given to an heir once the person is deceased.

Investopedia Says:
Most countries tax any inheritances.

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Business Dictionary: Inheritance

Real Property or Personal Property that is received by heirs. A nontechnical meaning of inheritance includes property passed by Will. Although federal estate tax may have to be paid on the estate itself, the recipient is not subject to federal income tax on the inheritance.

 
Thesaurus: inheritance

noun

  1. Any special privilege accorded a firstborn: birthright, heritage, legacy, patrimony. See owned/unowned.
  2. Something immaterial, as a style or philosophy, that is passed from one generation to another: heritage, legacy, tradition. See affect/ineffectiveness.

 

Devolution of property on an heir or heirs upon the death of its owner. In civil law jurisdictions it is called succession. The concept depends on a common acceptance of the notion of private ownership of goods and property. Under some systems, land is considered communal property and rights to it are redistributed, rather than bequeathed, on the death of a community member. In many countries, a minimum portion of the decedent's estate must be assigned to the surviving spouse and often to the progeny as well. Intestacy laws, which govern the inheritance of estates whose distribution is not directed by a will, universally view kinship between the decedent and the beneficiary as a primary consideration. Inheritance usually entails payment of an inheritance tax. See also inheritance tax; intestate succession; probate.

For more information on inheritance, visit Britannica.com.

 
Law Encyclopedia: Inheritance
This entry contains information applicable to United States law only.

Property received from a decedent, either by will or through state laws of intestate succession, where the decedent has failed to execute a valid will.

 

1. the acquisition of characters or qualities by transmission from parent to offspring.
2. that which is transmitted from parent to offspring. See also gene, deoxyribonucleic acid and heredity.
Mendelian inheritance is the basis of all genetic practice, but it has limitations in explaining the small differences that occur in a range of offspring of similar and related matings. Galtonian genetics deals specifically with this problem and is better fitted as a tool in population genetics and in dealing with characters that are dependent on a number of chromosomal loci rather than on a single locus.

  • autosomal i. — controlled by genes located on autosomes.
  • intermediate i. — inheritance in which the phenotype of the heterozygote falls between that of either homozygote.
  • maternal i. — the transmission of characters that are dependent on peculiarities of the egg cytoplasm produced, in turn, by nuclear genes.
  • X-linked i. — see x-linked.
 
Quotes About: Inheritance

Quotes:

"It is the fate of the great ones of this earth, to be appreciated only after they are gone." - Saying

"To inherit property is not to be born -- it is to be still-born, rather." - Henry David Thoreau

"I would rather make my name than inherit it." - William M. Thackeray

"Those in supreme power always suspect and hate their next heir." - Publius Cornelius Tacitus

"People don't have fortunes left them in that style nowadays; men have to work and women to marry for money. It's a dreadfully unjust world." - Louisa May Alcott

"To kill a relative of whom you are tired is something. But to inherit his property afterwards, that is genuine pleasure." - Honore De Balzac

See more famous quotes about Inheritance

 
Wikipedia: inheritance


Inheritance is the practice of passing on property, titles, debts, and obligations upon the death of an individual. It has long played an extremely important role in human societies.

Both anthropology and sociology have made detailed studies in this area. Many cultures feature patrilineal succession, also known as gavelkind, where only male children can inherit. Some cultures also employ matrilineal succession only passing property along the female line. Other practices include primogeniture, under which all property goes to the eldest child, or often the eldest son, or ultimogeniture, in which everything is left to the youngest child. Some ancient societies and most modern states employ partible inheritance, under which every child inherits (usually equally). Historically, there were also mixed systems:

  • In eastern Swedish culture, from the 13th century until the 19th century, sons inherited twice as much as daughters. This rule was introduced by the Regent Birger Jarl, and it was regarded as an improvement in its era, since daughters were previously usually left without.
  • Among ancient Israelites, the eldest son received twice as much as the other sons.
  • Among Galician people it was typical that all children (both men and women) had a part of the inheritance, but one son (the one who inherited the house) inherited one-third of all the inheritance. This son was called the mellorado. In some villages the mellorado even received two-thirds of all the inheritance. This two-thirds would be all the family's lands, while other children received their part in money.
  • According to Islamic inheritance jurisprudence, sons inherit twice as much as daughters when no will is left. The complete laws governing inheritance in Islam are complicated and take into account many kinship relations (so wills are usually recomended), but in principle males inherit twice as females. There is one interesting exception: The Indonesian Minangkabau people from West part of Sumatra island despite being strong Muslims employ only complete matrilineal succession with property and land passing down from mother to daughter. They find no contradiction between their culture and faith.

Many states have inheritance taxes, under which a portion of any estate goes to the government, though the government technically is not an heir.

Employing differing forms of succession can affect many areas of society. Gender roles are profoundly affected by inheritance laws and traditions. Primogeniture has the effect of keeping large estates united and thus perpetuating an elite. With partible inheritance large estates are slowly divided among many descendants and great wealth is thus diluted, leaving higher opportunities to individuals to make a success. (If great wealth is not diluted, the positions in society tend to be much more fixed and opportunities to make an individual success are lower.)

Inheritance can be organized in a way that its use is restricted by the desires of someone (usually of the decedent). An inheritance may have been organized as a fideicommissum, which usually cannot be sold or diminished, only its profits are disposable. A fideicommissum's succession can also be ordered in a way that determines it long (or eternally) also with regard to persons born long after the original descendant. Royal succession has typically been more or less a fideicommissum, the realm not (easily) to be sold and the rules of succession not to be (easily) altered by a holder (a monarch).

In more archaic days, the possession of inherited land has been much more like a family trust than a property of an individual. Even in recent years, the sale of the whole of or a significant portion of a farm in many European countries required consent from certain heirs, and/or heirs had the intervening right to obtain the land in question with same sales conditions as in the sales agreement in question.

In common law jurisdictions an heir is a person who is entitled to receive a share of the decedent's [1] property via the rules of inheritance in the jurisdiction where the decedent died or owned property at the time of his death. Strictly speaking, one becomes an heir only upon the death of the decedent. It is improper to speak of the "heir" of a living person, since the exact identity of the persons entitled to inherit are not determined until the time of death. In a case where an individual has such a position that only her/his own death before that of the decedent would prevent the individual from becoming a heir, the individual is called an heir apparent. There is a further concept of jointly inheriting, pending renunciation by all but one, which is called coparceny.

In modern legal use, the terms inheritance and heir refer only to succession of property from a decedent who has died intestate (that is, without a will). It is a common mistake to refer to the recipients of property through a will as heirs when they are properly called devisees or legatees.

Notes

  1. ^ A decedent is a person who has died. The term decedent should not be confused with the term descendant.

See also

External links


 
Misspellings: inheritance

Common misspelling(s) of inheritance

  • inheritage

 
Translations: Translations for: Inheritance

Dansk (Danish)
n. - arv

idioms:

  • inheritance tax    arveafgift

Nederlands (Dutch)
erfenis, (over)erving

Français (French)
n. - héritage, succession, (Biol) patrimoine héréditaire

idioms:

  • inheritance tax    (US) droits de succession

Deutsch (German)
n. - Erbe, Erbschaft

idioms:

  • inheritance tax    Erbschaftssteuer

Ελληνική (Greek)
n. - κληρονομιά

idioms:

  • inheritance tax    (οικον.) φόρος κληρονομιάς

Italiano (Italian)
eredità

idioms:

  • inheritance tax    imposta di successione

Português (Portuguese)
n. - herança (f)

idioms:

  • inheritance tax    imposto (m) de sucessão

Русский (Russian)
наследование, наследство

idioms:

  • inheritance tax    налог на наследство

Español (Spanish)
n. - herencia, patrimonio

idioms:

  • inheritance tax    impuesto sucesorio, impuesto a la herencia

Svenska (Swedish)
n. - arv, arvedel

中文(简体) (Chinese (Simplified))
遗传, 遗产

idioms:

  • inheritance tax    遗产税, 继承税

中文(繁體) (Chinese (Traditional))
n. - 遺傳, 遺產

idioms:

  • inheritance tax    遺產稅, 繼承稅

한국어 (Korean)
n. - 상속, 유산, 유전질

日本語 (Japanese)
n. - 相続, 相続財産, 遺産, 遺伝

idioms:

  • inheritance tax    相続税

العربيه (Arabic)
‏(الاسم) وراثه, إرث‏

עברית (Hebrew)
n. - ‮ירושה, עיזבון‬


 
 

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