Managing inheritance is a complex task. It requires a wide range of legal, economic, social, and cultural decision-making. The process involves professionals, such as attorneys, executors, and conservators. It also includes heirs, who may have their motivations and strategies for passing down their inheritance.

According to the literature, two broad motivations exist for passing down an inheritance. First, there is altruism. It involves the giving of money to help those who are unable to help themselves. Secondly, there is egoistic motivation, which focuses on personal property. It aims to protect the heir's right to possessions and enjoyment.

There are several other motivations for passing on an inheritance. These include the altruist response to specific economic needs, reciprocity, and the altruist response to specific financial needs.

It is also argued that inheritance is the principal source of economic inequality. It is also a means of acquiring wealth without much hard work. Previously, inheritance was restricted to possessions, such as savings accounts. The early Bolshevik inheritance law limited inheritance to close relatives. The modest inheritance limit was lifted in the 19th century. Nevertheless, inheritance has been defended on the grounds of economics and morals.

Aside from the legal and economic aspects of inheritance, families also develop informal strategies for passing on their legacy. The heirs can take advantage of the donor's fragile state. They may also deceive the donor or usurp their inheritance. In addition, the heir may be capable of performing the "scary" feat of inventing a device that can make the impossible possible.

Specific strategies have been deemed effective regardless of the motivations for passing down an inheritance. Aside from the altruist and egoist motivations, there are two others: reciprocity and the altruist response. However, these strategies may seem more universal.

The altruist and egoist motivations are only the most obvious ones. The altruist solution focuses on improving the heirs' living standards, and the egoist solution focuses on personal ownership and individual rules.

The altruist solution is the logical heir's successor to the egoist solution. Aside from improving the heirs' living standards, it ties together several vital facets of inheritance: altruism, reciprocity, and the altruist response. It also involves the donor, who feels guilty for allowing themselves to be taken in.

The altruist scheme is less effective than the egoist solution. However, it still ranks high on the list of inheritance-related gizmos. Aside from helping heirs, it also has the benefit of promoting family unity.

There are several types of inheritance management, including probate, distribution, and estate planning. Intestacy is the process by which a deceased person's property is distributed according if he or she does not leave Last Will. The process involves several steps, including collecting outstanding bills and obtaining insurance policies and deeds to a deceased person's house. You can learn more about Will on Wassiyyah, the estate planning expert.