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When do you get inheritance?
Like, I know you get inheritance when someone dies, but is it possible for someone to get inheritance when your family is still alive? Like, if you're supposed to get inheritance from your parents and they're still alive can you still get it or only when they die?
4 Answers
- 8 years ago
The definition of inheritance is getting money from someone after they've died. So if they're still alive, anything you get from them is called a gift, not an inheritance.
Deciding how to give out gifts instead of inheritance (or along with it) is called estate planning. Doing it right can minimize the amount of taxes that are taken out of what is inherited or gifted.
- Anonymous8 years ago
You will get your inheritance once your parents died, that’s simply the law it doesn't let people to demand inheritance from people who legally own their own property. Your only option is to wait until they die, at which point you will be legally entitled to some of the estate
- HeinrichLv 48 years ago
No, they have to die in order for you to get their inheritance. Unless they personally release it to you sooner but then it isn't called inheritance.
- Anonymous8 years ago
People who are living give you gifts, not inheritance. Whatever they may gift you is something you'll never inherit, of course.
