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 ?
Unlike HED, but like most of the ED's, Clouston syndrome is inherited only in one way: autosomal dominant.
My client complied with the minimum required distribution rules and took the first distribution from her inherited retirement plans in 2003.
The two researchers would like to register those with cancers that are inherited, as a public register would make it easier to prevent these kinds of cancer, reported the Finnish online newsletter Internytt.
The next six chapters describe six groups of major presenting symptoms in inherited metabolic diseases--neurologic, acidosis, hepatic, cardiac, storage, and acute metabolic--in newborns.
Beneficiaries of inherited IRAs need to determine whether or not they are eligible for the new rules.
Where these inherited denominations did not contain all the "enthusiasm"--a key word in the first chapter of the book here under review--others came along with extravagant effervescences.
Protection, status, and wealth could be inherited from either the maternal or paternal line, which is one reason why the careful construction of marriage alliances was so important.
If MS isn't an inherited disease, why are medical scientists looking for MS genes?
Familial multiple endocrine neoplasia type 1 (FMEN1) is an inherited disorder that affects the endocrine glands.
The second error is in substituting inborn for inherited. This is terribly imprecise, since these are two distinctly different ideas--as is apparent in the cases of fetal alcohol syndrome or thalidomide babies.
Page after page of obstruent data and marching columns of Pearson correlations in the new book The Bell Curve by Murray and Herrnstein, which holds that success in life is mainly determined by inherited IQ and that statistically significant differences in inherited intellect exist among the races, imply that the issues at play in the IQ dispute are so sophisticated only readers of high intelligence can grasp them.
Hereditary deafness is hearing loss that is inherited or passed down from parents to their children.

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