heir Hear it!

heir definition - finance
A person who receives money or assets from the estate of a person who has died. An heir may receive the property and funds through the direction of a will or, if the deceased hasnÂ’t left other instructions, by legal statute as the family member who is lawfully eligible to receive the estateÂ’s proceeds.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.