Inheritance is the set of assets, rights or obligations that are transmitted from its owner or creator to other individuals considered legitimate heirs.
The concept of inheritance applies to various areas of human life. In the field of economics and law , it refers to a set of goods, rights and obligations that are transmitted from one person to another or others. This transmission generally occurs when the person who owns the estate dies and then leaves his loved ones his legacy. For example, when the father dies, the children receive as inheritance the house and other properties that their father had acquired in life.
In the cultural and social field , it refers to a set of traditions, customs, artistic expressions, forms of communication, etc. that are transmitted from one generation to another. For example, the celebration of the sun party in Peru is the cultural heritage left by ancient generations of people who lived in the area.
In the field of biology , meanwhile, it refers to the genes that are transmitted from the biological parents to the children. For example, the color of the eyes is defined by the legacy or genetic inheritance left by the parents.
Who are the heirs
The heirs are the people (natural or legal) who have the right to receive a certain inheritance. In most countries of the world, people can write a will specifying who wants to leave the goods and in what proportions. In any case, if there is no will, the Law establishes who will be considered as legitimate heirs. Usually the latter are widowers, children, parents or other close relatives.
Obligations and rights of the heirs
The heirs have two options regarding inheritance:
- Accept it: what it means to accept the rights and obligations associated with it.
- Repudiate her: reject her because she considers that it does not benefit her.
In most countries inheritance taxes have been established , which means that part of the benefits obtained will have to be paid to the State.