Direct Inheritance

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Direct Inheritance is when a recipient of an estate takes the property outright and unconditionally, as opposed to having the estate placed in a trust or account

For those who qualify for Social Security or Medicaid, direct inheritance may cause a reduction or elimination of those benefits because the inheritance is counted as income in the month received and as a resource in the following months. 

[Last updated in October of 2021 by the Wex Definitions Team]