There are many types of inheritance.
1. Intestate Inheritance: This type of inheritance occurs when a person dies without having made a will. In this case, the assets of the deceased are distributed according to the laws of the state in which the deceased resided.
2. Testate Inheritance: This type of inheritance occurs when a person dies leaving behind a valid will. In this case, the assets are distributed according to the wishes of the deceased as stated in his/her will.
3. Joint Tenancy: This type of inheritance occurs when property is owned jointly by two or more persons. In this case, when one of the joint tenants dies, the surviving tenant automatically becomes the owner of the entire property.
4. Tenancy in Common: This type of inheritance occurs when two or more people own a property with each having separate and distinct rights. In this case, when one of the tenants dies, his/her share of the property passes on to his/her heirs.
5. Community Property: This type of inheritance occurs when two spouses own a property together. In this case, when one spouse dies, the surviving spouse becomes the owner of the entire property.
6. Gift: This type of inheritance occurs when a person makes a gift of property to another person while they are still alive.
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