Determining the value of an individual's inheritance prior to the settlement of the
estate may be difficult since the estate may need to liquidate the asset and/or use
a portion of the heir's interest to cover the estate's expenses and obligations, which
must be paid prior to distribution of the decedent's estate to his heirs. If the estate
has little or no debt, the heir's interest may be easily determinable at the individual's
date of death. But if the estate is heavily indebted or the amount of indebtedness
is unknown, it may be impossible to determine the value of the heir's interest until
the date the estate is closed. A contested will or a dispute over heirship may also
make it difficult to value the heir's interest until the dispute is settled or the
estate is closed.
Per SI 01120.215A.1. an inheritance cannot be considered a resource until the month following the month
in which it meets the definition of income.
For questions relating to the valuation of an inheritance, or where the heir alleges
he has disclaimed or renounced all or any portion of his inheritance, submit for a
legal opinion pursuant to the procedures outlined in GN 01010.815.