What is my “estate”?
May 11, 2024 – Matthew S. Akers & Douglas McCarthy
An estate is the net worth of a person at any point in time, alive or dead. Once an individual has passed away, it consists of all property owned at death before it is distributed by a will, trust, or intestacy laws (the laws of descent and distribution). This is the sum of a person’s assets; legal rights, interests and entitlements.
An estate may contain real property (real estate, houses, or investment properties) or personal property (bank accounts, securities, jewelry and automobiles, etc.).
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