Legal Definition of Inherit: To receive money and/or property from someone who has died. Some may inherit as a result of a specific bequest in a will, or as a consequence of being a member of the family of a person who died without leaving a will | Discover the legal definition and importance of inheritance for business owners. Learn how inheritance occurs through wills and intestacy, and explore real-life examples. Understand the significance of inheritance for estate planning, business succession, and legal compliance. Gain expert guidance on navigating the complexities of inheritance