What is an Inheritance?

An inheritance is what you receive as a beneficiary after someone you care about has passed away. Most of the time, you inherit cash from a bank account or personal belongings. It can also include real estate and other items, and the value can range from a few hundred dollars to millions of dollars. You might have to pay taxes on the cash or property you receive, so you must understand how inheritance works.

A will is one common way that people can leave an inheritance to a loved one. Without a will, you might still inherit cash or property as an heir under state law. Please consult an attorney, accountant, or another appropriate professional for inheritance advice specific… (continue reading at Robinhood)