What’s an heir?
A legal heir is an individual who inherits the inheritance of a deceased person who died intestate, meaning they did not leave a will during their lifetime. In this case, the heir inherits according to state probate laws.
Property inheritors are usually children, descendants, or close relatives. Marital or community property laws usually grant spouses property rights, not heirship.
Understanding Heir
Two siblings usually split the estate evenly. An inheritance transfers a deceased person’s estate to an heir. This can include cash, stocks, bonds, real estate, cars, furniture, antiques, artwork, and jewelry.
Many sorts of heirs exist, including:
- The presumed heir is an heir apparent.
- A putative heir is someone who would be an heir under current conditions but may lose their inheritance to a younger person.
- Adoptive heir: a lawfully adopted kid with the same rights as parental biological children.
- A collateral heir is a family member who isn’t a direct descendant.
Intestate
An individual who dies without a will is considered intestate. It might also mean the will is invalid. Probate courts allocate intestate assets.
Without a will, a court administrator manages an estate. The executors will collect assets, pay off bills, and distribute leftover assets to the deceased’s heirs-at-law. State law governs probate.
The beneficiaries get the remaining assets via intestate succession, setting their hierarchy. First come the deceased’s spouse, the children, and the grandchildren. If no living relatives or heirs-at-law exist, the state takes the assets.
Beneficiary vs. Heir
The term “heir” refers to a person who inherits property from an intestate individual but is often misused to describe those inheriting property as designated by a will. The correct term is “beneficiary,” which refers to a person qualified to receive property according to a will or trust.
Traditional Jewish, Christian, and Islamic heir practices vary.
An alienated adult kid purposely left out of a will is not a beneficiary. Not all beneficiaries are heirs. For instance, a friend or companion might get property.
The friend is not a child or direct relative of the decedent, so he is not an heir, but he can be a beneficiary under the deceased person’s will or other arrangement. In cases of significant inheritance, a female heir is known as a heiress.
Real-World Examples
The Rockefellers
World-famous families include the Rockefellers. John D. Rockefeller earned money through his oil company. Though he donated much of his riches to charity, Alta Rockefeller and John D. Rockefeller Jr. were his heirs.
As Rockefeller’s heirs, his children and grandchildren inherited much of his money. As Rockefeller’s only son, Jr. took over the family office and joined the family enterprises, becoming his “heir” despite being a beneficiary.
British monarch heir
The monarch’s eldest living child, male or female, inherits the British line of succession.
Prince Charles III became ruler after his mother, Queen Elizabeth II, died. Charles’s oldest son is Prince William; Charles’s oldest son succeeds him. Prince George, William’s oldest son, succeeds him.
What Makes a Heir?
When there is no will, an heir can inherit the deceased’s assets. Most heirs are children or living relatives. Nations and governments have inheritance laws and qualifications.
What’s the Difference Between Heir and Beneficiary?
Without a will, an heir inherits the deceased’s possessions. The deceased named a beneficiary to inherit their possessions in a will or testament. A beneficiary might be anybody, but an heir is usually a close relative.
Who’s an heir?
Most heirs are children. If no children are surviving, grandkids are heirs. Without children or grandkids, the next closest surviving relative is an heir.
Bottom Line
Heirs inherit a deceased person’s estate, usually without a will. People often have children as heirs. The term “heir” is often linked with royal families, although it may also apply to anyone inheriting an estate—a kid, grandchild, nephew, niece, or sibling.
Conclusion
- An heir can inherit if a deceased individual does not leave a will.
- Property usually goes to offspring, descendants, or close relatives of the dead.
- Heirs differ from beneficiaries, who are named in a will or other instrument to receive a decedent’s possessions.
- Inheritances are part of a deceased person’s estate.
- A probate court distributes assets when a person dies intestate without a will.