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W. Bequests and Inheritances
You may accept gifts that are left to you in someone’s will or through other means of inheritance.[134] If you file financial disclosure statements, you will not need to report the acquisition of any property through the bequest or inheritance, but you may need to report assets themselves, if they meet reporting thresholds. See Financial Disclosure for more information about what and how to report.
[134] House Rule 25, cl. 5(a)(3)(M).
Example (Permissible). In his will, your grandfather left you his antique clock worth $5,000. You plan to put the clock in your living room. You may accept the clock and you will not need to report the gift.
Example (Permissible). Your mother leaves you her house in her will. You plan to rent out the house. You may accept the gift. If you file financial disclosure statements, you will need to report the house as a rental property on your financial disclosure statement while you rent it out.
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