About 8% of Americans get an inheritance of any kind — and those who do inherit will likely get less than $25,000 US Dollars (USD). Less than 2% of Americans receive more than $100,000 in inheritance. This data came from a study conducted by the Federal Reserve Bank of Cleveland.
More inheritance facts::
An inheritance can include everything from cash and property titles to debts and obligations, which can lead to a "negative inheritance" where 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 that he chose at random from a phone book.
Inheritance tax is different than an estate tax. An inheritance tax is placed on the beneficiaries of an inheritance, while an estate tax is placed on the estate as a whole.
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