Heir

In finance, the term “heir” denotes a person or other entity which holds a legal claim to an inheritance. A person’s heirs may be defined by succession law or specified in a will. In Switzerland, succession law stipulates legal heirs, but makes allowance for a portion of assets to be distributed among entities of the testator’s choice.

More on this topic:
Inheritances: Rules that dictate who gets what in Switzerland

Editor Daniel Dreier
Daniel Dreier is editor and personal finance expert at moneyland.ch.