Heirs render themselves personally liable for the whole of their ancestor's debts, if they take the inheritance without reservation. For the purpose of inquiring whether the estate is more in value than the debts, they are allowed a year, called the annus deliberandi, after which the superior may compel them either to enter, or a creditor make them liable, or they must renounce the inheritance. (See Title to Land, 4.) An heir may enter cum beneficio inventarii, i.e., he may file an inventory of the estate, and declare that he is to be no further liable for the ancestor's debts than to the value of the estate.

Source: Kinnear, Digest of House of Lords cases (1865), pg. 356.