Heir
Understand what it means to be an heir and the role heirs play in estate planning. Learn how being named as an heir impacts your inheritance and obligations.
What is the role of an heir in estate planning?
An heir is a person legally entitled to inherit a portion or the entirety of a deceased person's estate under the laws of intestate succession. This role is central in estate planning because heirs are typically the beneficiaries of wills and trusts. Being an heir affects inheritance outcome and may involve responsibilities such as settling estate taxes or debts before receiving full inheritance. Understanding one's status as an heir is important for financial planning and fulfilling potential obligations tied to familial legacies.
