Heir

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Definition of 'Heir'

An heir is a person who inherits property or money from a deceased person. The term is most commonly used in the context of wills and estates, but it can also apply to other situations in which one person passes on their assets to another.

There are two main types of heirs: legal heirs and testamentary heirs. Legal heirs are those who are entitled to inherit property or money according to the laws of the state in which the deceased person lived. Testamentary heirs are those who are named in the deceased person's will.

The order of inheritance for legal heirs is as follows:

* Surviving spouse
* Children
* Grandchildren
* Great-grandchildren
* Parents
* Siblings
* Nieces and nephews
* Grandnieces and grandnephews
* First cousins
* Second cousins
* Third cousins
* and so on

The order of inheritance for testamentary heirs is determined by the terms of the will. The deceased person can leave their property or money to anyone they want, regardless of their relationship to them.

There are a few things to keep in mind if you are an heir. First, you will need to file a claim with the probate court in the county where the deceased person lived. This is the court that will oversee the administration of the estate and ensure that the assets are distributed according to the will.

Second, you may be responsible for paying taxes on the inheritance. The amount of tax you owe will depend on the value of the inheritance and your own income.

Finally, you may need to take steps to protect your inheritance from creditors. If the deceased person had any debts, those debts may be passed on to the heirs. It is important to speak to an attorney to learn more about your rights and responsibilities as an heir.

Inheriting property or money can be a complex process. It is important to understand your rights and responsibilities as an heir so that you can make informed decisions about your inheritance.

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