Inheritance

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Inheritance

Any form of property that one receives when a person dies. One may receive an inheritance because the deceased person had so specified in a will, or, if there is no will, one may receive an inheritance simply by being a close relative of the deceased. In most countries, inheritances are taxed if they are valued over a certain amount. See also: Estate.

Inheritance

As distinguished from a bequest or devise, an inheritance is property acquired through laws of descent and distribution from a person who dies without leaving a will. Property so acquired usually takes as its basis, for gain or loss on later disposition or for depreciation, the fair market value at the date of the decedent's death. An inheritance of property is not a taxable event, but the income from an inheritance is taxable.
References in periodicals archive ?
As one of her strategies for combating women's spatial disinheritance, Hartigan systematically gives hearing to the female side of a story.
Yet while the reason for the disinheritance of Thomas remains mysterious, the fact of this unusual occurrence can be established with certainty.
Although disinheritance is an option in some cases, special supplemental trusts may provide the best solution to meet the needs of a child with a disability.
His doctrine ultimately enlarges the vacuum of disinheritance in which his authority and his personality reign supreme and in which change and impiety are the sole criteria.
For those masters who were also biological fathers to their slaves, the tacit disinheritance had double significance.
Through these papers can be traced the changing relationship between the two men, and the development of events that culminated in Sir James's disinheritance of his nephew and the installation in his place of his brother Charles.
Hayward attributes the attempted disinheritance of Mary and Elizabeth, however, more to Edward's affection for Jane Dudley, and his antipathy toward Catholicism, than to Northumberland's plotting.
The resulting portraits of family members and relatives read like a soap opera or made-for-TV mini-series with their tales of dynastic struggles, disinheritance, political feuds, squandered wealth, alcoholism and gambling, drug addiction, love affairs, failed marriages, and thwarted careers (see Richard the Squire, Phil Lee, Billy Shippen, Tommy Shippen, Arthur Lee, Richard Henry Lee, Lighthorse Harry Lee, Charles Lee, for examples).
The descendent of both a white slave owner and an eleven year-old slave girl, Williams confronts the "profoundly troubling paradox" that self-knowledge requires her to "claim[] for [her]self a heritage the weft of whose genesis is [her] own disinheritance .
New Films This Week Arthur (12A) Russell Brand may play Russell Brand and Helen Mirren say 'wash your winkie', but this remake about the immature drunk playboy threatened with disinheritance unless he marries the woman his mother's chosen is surprisingly wittier, sweeter and more charming than expected.
Is the area "tainted" with hypocrisy, delusions of grandeur, and disinheritance associated with marriage?
Into what "vacuum of disinheritance," one must cry in lament, have journals like The Dial, The Bookman, The American Review gone?