benefit of inventory
- It's an heir's privilege where they can only be accountable for the estate's debts up to the amount of assets left in the estate
- She was relieved to learn that the benefit of inventory would protect her from financial ruin by limiting her financial responsibility for the estate's liabilities.
- With the benefit of inventory, he will only be responsible for the debts of his late uncle's estate up to the value of the estate's assets.
- Even though inheriting debts can be intimidating, the benefit of inventory rule will ensure you are not personally liable beyond the value of your property.