inheritance
noun
, -ˈhe-rə-\
Definition of inheritance
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Synonyms for inheritance
Synonyms
bequest, birthright, heritage, legacy, patrimony
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Examples of inheritance in a Sentence
Recent Examples on the Web
The second priority is instituting a law that applies to all citizens in matters such as divorce and inheritance. — Joanna Slater, Washington Post, "In Modi’s move on Kashmir, a road map for his ‘new India’," 15 Aug. 2019 This version of Tori Spelling, who like her namesake has been open about her marital and inheritance woes, is desperate for money when the network cancels her latest reality show. — Judy Berman, Time, "The 90210 Revival Is Weird as Hell—But At Least It's Not Boring," 6 Aug. 2019 Policy could speed things along: tax relief for low-income households to reduce the concentration of income, and property and inheritance-tax reform to reduce the concentration of wealth. — The Economist, "The Mittelstand’s corporate success comes at a cost," 1 Aug. 2019 Among the other proposals in his plan, de Blasio wants to increase the tax rate of S&P 500 CEOs and tax inheritances over $1 million as income. — Zak Hudak, CBS News, "De Blasio to unveil "most aggressive wealth tax" during debate," 31 July 2019 The principle of the thing, like much of tax reform dealing with inheritance over the past 35 years, tends to aggravate one of the great problems in this country — wealth inequality. — Michael Taylor, ExpressNews.com, "Bill sticks it to aristocracy, helps your retirement savings," 26 July 2019 Per the standards outlined by Ersitzung, the man’s heirs, unaware of the painting’s shadowy provenance, had simply acquired the work through good-faith inheritance. — Meilan Solly, Smithsonian, "Investigation to Look for Nazi-Looted Art Later Ransacked From Hitler’s Headquarters," 24 July 2019 But experiments in many organisms suggested epigenetic inheritance was real. — Andrew Curry, Science | AAAS, "Parents’ emotional trauma may change their children’s biology. Studies in mice show how," 18 July 2019 After her grandmother dies, Billie James, a grant writer, returns to the Mississippi Delta for the first time in 30 years to claim her inheritance — $5,000 and a half-dilapidated house that was once her father’s. — Michele Langevine Leiby, chicagotribune.com, "In ‘The Gone Dead,’ a woman’s questions about her father’s death reveal a town’s racist history," 17 July 2019These example sentences are selected automatically from various online news sources to reflect current usage of the word 'inheritance.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
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More Definitions for inheritance
inheritance
nounFinancial Definition of inheritance
What It Is
An inheritance includes those assets of an estate that are bequeathed, in whole or in part, to specific heirs.
How It Works
The assets that comprise an estate are customarily transferred to individuals specified by name or relationship (e.g. "Howard Jones, III or "grandchild") in the will of the deceased. In the absence of a will, estate assets are transferred according to laws that protect the assets of the deceased (generally passing them to descendants in a specific order). Once transferred, an inheritance is heavily taxed.
For example, Jim's estate is worth $10,000. His will specifies that his son and daughter each receive $5000. Following Jim's death, the son and daughter each receive $5000. This is their inheritance.
Why It Matters
An inheritance represents the material legacy an individual leaves behind after his de
ath. In addition to the family dynamics involved in the transfer of an inheritance, there are significant tax implications for the inheritors depending on their circumstances and on the value of assets received.
Source: Investing Answers
inheritance
noun
English Language Learners Definition of inheritance
See the full definition for inheritance in the English Language Learners Dictionary
inheritance
noun
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Kids Definition of inheritance
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inheritance
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Medical Definition of inheritance
inheritance
noun