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Hereditament is a legal term referring to any real property or personal property that may be inherited.
It can include every kind of inheritable property including corporeal and incorporeal.
Incorporeal hereditament would usually be regarding the right to receiving future rentals and insurance policy payouts.
However, hereditament would not include a life estate ownership as that is something that cannot be inherited.
In old English law, the word hereditament play a crucial role in wills as it paints a clear picture of what is and what is not.
But in modern times, it is no longer as simple to define hereditament and identify the boundaries it encompasses.
Just remember that if you are getting a will done, you should definitely want to see the word in there somewhere.