Blog

Inheritance refers to the money, property, or assets that a person leaves to their heirs when they pass away. It’s often distributed according to the instructions in a will or through state laws if no will exists.

A beneficiary is a person (or entity) who is legally entitled to receive money, property, or other benefits from a financial product, legal agreement, or estate after someone dies or when certain conditions are met.

An executor is the person named in your will to manage your estate after you pass away. Their job? Handle your final financial affairs—think debts, taxes, and dividing up your assets to the people (or causes) you care about.

Your estate is everything you own at the time of your death—your money, property, investments, life insurance (sometimes), personal belongings, and even your debts.