Inheritance

(redirected from disinheritance)
Also found in: Dictionary, Thesaurus, Medical, Legal, Encyclopedia, Wikipedia.

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 ?
In Kelly v Baker the Court of Appeal for British Columbia provided the following definition of valid and rational reasons: "valid in the sense of being based on fact; rational in the sense that there is a logical connection between the reasons and the act of disinheritance" (Kelly, supra note 16 at para 58).
(49) This approach encourages beneficiaries to think seriously about the merits of their claims before filing suit, although threat of disinheritance has less impact on beneficiaries who receive only token bequests (and therefore have less to lose).
The second canon of construction is the presumption against disinheritance. (139) This canon presumes that a testator would not intend to disinherit his heirs, absent a clear intention to the contrary.
Depending upon the language and provisions used in a CST, older documents may result in the inadvertent disinheritance of the spouse or children.
The OK outcome state is propagated upwards via outcome disinheritance.
disinheritance by requiring minors to die without wills, which forces
The policy commitment and implementation do not align with social expectations, no wonder this magnitude of collective social disinheritance and loss, which are permanent.
"Discord and Disinheritance," Chapter nine, surveys a range of familial ties that were troubled or broken, divisions sometimes prompted by the contents of the will itself.
Regarding the disinheritance issue, one of the most important documents for parents to consider is a will.
Was it as true in the 1990s as in the 1940s, for example, that daughters, unlike sons, understood themselves to be "instruments" rather than "agents" of culture (Gilbert's words) so that a "gendered disinheritance" assured their "desperate alliance with the father figure"?
(130) Such a provision appears "not as a bequest, but as a token of disinheritance," (131) as defined "by well-known custom and connotation." (132) In some instances, wills including nominal bequests have gone on to spell out the testator's hostility toward the nominal beneficiary in no uncertain terms, and the formula itself seems almost to breathe resentment--adding insult to penury.
"I'm interested in what's gone, the disinheritance, what I've been able to become or learn or fuse with or not fuse with.