What is the difference between succession and inheritance?
Inheritance and succession are related terms, but they are not the same. Inheritance is a legal process in which the title of an estate passes from the deceased to the living. The estate can include real estate, money, or other assets. In Massachusetts, this process is regulated by inheritance law. Succession is a little different. It is the act of accepting something that came from a deceased person. This could be a legal right to property or even an obligation, such as a debt. Succession is often a voluntary act, one that the person chooses to take on. Inheritance and succession both involve the transfer of something from a deceased person to the living. The difference is that inheritance is a legal process which is regulated by law, while succession is a voluntary act. Inheritance is a way of transferring wealth from one generation to the next, while succession is about taking on an obligation or gaining a right to a property.
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