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 ?
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).
140) The presumption against disinheritance is especially strong when there is an absence of evidence that the testator had bad or ill feelings towards the heir purported to be disinherited.
intentional disinheritance by the forced spousal share, which provides
To be sure, the distinction between a nominal and substantial bequest is one of degree, and where along the continuum of ascending bequests the implication of disinheritance disappears remains vague.
The lower percentage that a wife receives can be partially explained by the fact that Shari'a protects all heirs from disinheritance, not only the wife.
15) Because Florida law does not recognize a same-sex partner as a "spouse," such a disinheritance is possible.
According to Kottman, attending to disinheritance and its aftermath in Shakespearean tragedy will not only teach us to see our own "forms of worldly inheritance" and "modes of social organization" as empty and unreliable, but may also reveal how (or whether) we can form meaningful new relationships after these bonds fail (22).
Even in Sarawak his path as Rajah hardly ran smoothly: the frittering away of his personal fortune, the death of Hassim and Badrudeen in 1845-6, the break with Wise, the campaign against him in England following Beting Maru ("the savage attacks did him permanent injury," the diplomat St John noted, p 126), illness and disfigurement, the Commission of Enquiry at Singapore, the Chinese Rebellion (perhaps the key turning point), (3) the Malay Plot, family turmoil (including the disinheritance of his original heir), and the final "King Lear" years spent raging on the edge of Dartmoor.
This is Less a disinheritance of Marxism than a reminder that Marx cannot save us, that the rational application or understanding of his theories is not now what is lacking.
Estimating correlate human miseries, including disinheritance, would only place the dead at risk of being insignificant.
On Release Arthur (12A) Russell Brand and Helen Mirren star in remake about the immature drunk playboy threatened with disinheritance unless he marries the woman his mother's chosen.
2) Economic negation opens the novel with Sir Hugh's disinheritance of Camilla, producing her novel-long need for money and animating most of the story's narrative tension.