Only 8% of Americans inherit, with less than 2% receiving over $100,000. Inheritance can include debts, and the average inheritance is spent in 17 months. Inheritance tax is different from estate tax.
About 8% of Americans inherit some kind, and those who inherit are likely to get less than $25,000 US Dollars (USD). Fewer than 2% of Americans receive more than $100,000 in inheritances. This data comes from a study conducted by the Federal Reserve Bank of Cleveland.
More Legacy Facts::
An inheritance can include anything from cash and title deeds to debts and obligations, which can lead to a “negative inheritance” in which the heirs owe money.
In the US, the average inheritance is spent in 17 months.
In 2007, a Portuguese aristocrat left his entire fortune to 70 strangers who he picked at random from a telephone directory.
Inheritance tax is different from inheritance tax. An inheritance tax is levied on the beneficiaries of an inheritance, while an inheritance tax is levied on the inheritance as a whole.
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