Related Definitions
What is an Estate?
All property, assets, and debts left behind by a deceased person, to be administered through probate.
The total net worth of an individual at the time of their death, including all assets, liabilities, and financial interests. The estate may encompass real estate, bank accounts, investments, personal property, and debts owed. In probate proceedings, the estate is subject to distribution according to the decedent’s will or state intestacy laws, and the process includes settling debts and taxes before distributing remaining assets.
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Related Articles
Insights and advice on trust and probate estate litigation from our blog.
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Executive summary Introduction Probate is the process of managing, administrating, and distributing the assets of an estate, either with or without a will. It [...]