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Understanding the Context

Learn how estate planning protects your family, honors your wishes, and secures your legacy. In common law, an estate is a living or deceased person's net worth. It is the sum of a person's assets; their legal rights, interests, and entitlements to property of any kind, minus all of their liabilities at a given time. The issue is of special legal significance on a question of bankruptcy and death of the person.

Key Insights

(See inheritance.) Depending on the particular context, the term is also ... Learn what constitutes an estate, the essentials of estate planning, and how to draft your will to effectively manage asset distribution and minimize taxes. ESTATE definition: 1. a large area of land in the country that is owned by a family or an organization and is often…. Learn more.

Final Thoughts

Wentworth Woodhouse is a large rural estate, extending to 15,000 acres including the country house. The "estate" formed an economic system where the profits from its produce and rents (of housing or agricultural land) sustained the main household, formerly known as the manor house. Thus, "the estate" may refer to all other cottages and villages in the same ownership as the mansion itself ... The meaning of ESTATE is state, condition. How to use estate in a sentence. ESTATE definition: a piece of landed property, especially one of large extent with an elaborate house on it.

See examples of estate used in a sentence.