What is the difference between heir and heir apparent

Understanding Heir. Special Considerations. Heir vs. Examples of Heir. The Bottom Line. Key Takeaways An heir is a person who is legally entitled to collect an inheritance when a deceased person did not formalize a last will and testament. Generally speaking, heirs who inherit the property are children, descendants, or other close relatives of the decedent. Legally speaking, heirs differ from beneficiaries, who are designated by a will or other written documents, as the intended recipient of a decedent's assets.

When an individual dies without a will, it is known as intestate, and a probate court determines how the assets are distributed. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Related Terms Intestacy Definition Intestacy refers to the condition of an estate of a person who dies without a will, and owns property that is worth more than their outstanding debts.

Inheritance Inheritance refers to the assets a person leaves to others after they die. Read about inheritance taxes and the probate process. What Is a Testamentary Trust? A testamentary trust is a legal entity that manages the assets of a deceased person in accordance with instructions in the person's will. Understanding the Estate Tax An estate tax is a federal or state levy on inherited assets whose value exceeds a certain million-dollar-plus amount.

Next of Kin Definition Next of kin is usually defined as a person's closest living blood relative, someone who may have inheritance rights, and obligations. Test your visual vocabulary with our question challenge!

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Heimlich manoeuvre. Test your vocabulary with our fun image quizzes. Image credits. Word of the Day goodwill. Blog Outsets and onsets! Read More. November 08, To top. English Business Examples. Sign up for free and get access to exclusive content:. Free word lists and quizzes from Cambridge. Tools to create your own word lists and quizzes. Word lists shared by our community of dictionary fans. Patrick Hicks , PatrickHicks. On the surface, an heir and a beneficiary may seem like two terms that can be used interchangeably.

Rights of Heirs to an Estate. Heir vs Beneficiary. Dying without any estate planning is known as dying intestate , and in cases when this happens, state law dictates how an estate is passed down, and which heirs are entitled to assets. In simplest terms, an heir apparent is the first person in line in an order of succession. Presumptive heir: Unlike an heir apparent, a presumptive heir is entitled to inherit, usually a throne or hereditary honor, but his or her right could be displaced or defeated.