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An estate means a person's property or net worth. When the person is deceased, their estate goes through probate and is distributed according to the terms of their will. If there is no will, states have rules of intestate succession they use to disperse the estate.What does an estate consist of?
An “estate” consists of all your assets including real estate, bank accounts, stocks and other securities, life insurance policies, and personal property such as cars, jewelry and artwork. The value of your estate is equal to the fair market value of the assets minus your debts. Read more….What is the definition of an estate?
Financial Definition of estate. An estate is all of an individual’s property and financial assets and liabilities at the time of his or her death. An estate might include a home and other real estate owned by an individual, as well as valuables such as jewelry and artwork, and financial assets such as stocks and bonds.