In probate law, terms like “inheritance” and “heirloom” are often used when discussing the distribution of a deceased person’s property. While these words may seem interchangeable, they refer to different concepts. Understanding the distinction between them can help clarify how the distribution of assets takes place.
Passing on wealth and assets
“Inheritance” refers to any property, money, or assets that go to beneficiaries after a person’s death. This includes a wide range of assets such as real estate, bank accounts, investments, and personal property. In Texas, inheritance is usually distributed based on a will. If there is no will, it’s distributed through the state’s intestacy laws.
An important thing to remember about inheritance is that it must go through probate, the legal process of distributing assets. This applies to all cases, whether they involve a will or intestacy laws. Also, an inheritance can go to several heirs, depending on the wishes of the individual or laws.
Items of sentimental or historical value
An heirloom is typically a specific item passed down through generations that holds sentimental or historical significance. While an heirloom can have monetary value, its importance is often tied to family history or tradition. Examples of heirlooms include jewelry, antiques, or family artifacts.
Heirlooms may or may not go through probate. Some get passed down directly through wills, but others may go to a family member outside of probate depending on family agreements.
Understanding inheritance and heirlooms
Making clear decisions early helps avoid complications during probate. Taking intentional steps now ensures a smoother process when distributing assets. Thoughtful planning guarantees that the estate respects your personal wishes and carries them out as you intended.