History, asked by hayat69, 1 year ago

what is meant by inheritance laws?​

Answers

Answered by adrija99
1

Hey Mate,,,This might help you!!!!

Inheritance traditionally has referred to whatever one receives upon the death of a relative due to the laws of descent and distribution, which apply when there is no will. However, the modern usage of inheritance has come to mean anything a person receives from the estate of a decedent, whether by the laws of descent or as a beneficiary of a will or trust.

In some states, an inheritance tax may apply to gifts received from a decedent. The tax is based upon a person’s (beneficiary’s) right to receive money or property which was owned by the decedent at the date of death. This is in contrast to the Federal estate tax, which is a tax upon the entire amount of property owned by the decedent at the time of death. Also, federal tax rules have special provisions for the valuation of inherited property.

Answered by vijayalakshmi391
1
Inheritance Law and Legal Definition.Inheritance traditionally has referred to whatever one receives upon the death of a relative due to the laws of descent and distribution, which apply when there is no will. ... In some states, aninheritance tax may apply to gifts received from a decedent
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