There are a few different ways a beneficiary may be paid:
Specific bequest: If the decedent left you a specific sum of money or piece of property, you’ll receive it soon after bills, debts and taxes have been paid.
Trust fund: A decedent may choose to have the inheritance paid out through a type of trust fund. You may receive it in one lump sum at a certain time or in many lump sums over a specific period.
Residuary estate: After debts and liabilities have been paid and specific gifts are given out, you’ll receive your percentage of the remaining final estate.