Inheritance is the property heirs receive from a decedent's property. Inheritance is based on the laws of descent and distribution and occur when the decedent is intestate. Often, inheritance and heirs are mistakenly confused with beneficiaries and bequests, the difference being the presence of a last will and testament directing the distribution. An inheritance is based on the laws of the state in which the decedent lived and may or may not be according to what the decedent wished. An inheritance can include property, titles, debts and other obligations of the deceased based on the laws of the jurisdiction of the deceased. In order to insure that property is distributed to chosen beneficiaries, individuals should prepare an estate plan that spells out their wishes.