what does estate mean
See Stand,and cf. State.]An estate comprises the houses and outbuildings and supporting farmland and woods that surround the gardens and grounds of a very large property,such as a country house or mansion. It is the modern term for a manor,but lacks the latter’s now abolished jurisdictional authority.
People also ask
What is the financial definition of an estate?
Financial Definition of estate. An estate is all of an individual 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.
What is a life estate and how does it work?
What Is A Life Estate? A life estate is something to consider during estate planning. When an owner of a home signs a life estate, they are in effect passing part of the ownership of a home to another person. This could be thought of as a way to pregift your home to your heirs while still retaining joint ownership.
What is an intestate estate?
When we talk about an intestate estate we are referring to the estate of someone who died without leaving a legal will. This person is said to have died intestacy. This can mean that they died without a will at all or that they died with a will but that will is not a valid legal document. What Makes a Will an Invalid Legal Document?
What is the definition of a taxable estate?
Financial Definition of taxable estate. A taxable estate is the portion of a person’s net assets that are taxable upon his or her death. An estate tax is often levied on the assets that the deceased leaves to his or her heirs. Living spouses who inherit their husband/wife’s assets can avoid estate taxes altogether.