net estate


net estate
n.
A gross estate minus funeral expenses, claims against the estate, mortgages and other debts, and any other proper deductions that must come from the estate during settlement.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


net estate
The value of all property owned at death less liabilities or debts.
Category: Wills, Trusts & Estates → Living Trusts & Avoiding Probate

Nolo’s Plain-English Law Dictionary. . 2009.

net estate
n.
   the remaining estate of a person who has died, calculated by taking the value of all assets and subtracting all debts of the person who died, including funeral costs, expenses of administering the estate and any other allowable deductions. The federal estate tax (and/or state inheritance tax where it exists) is then based on the net estate value.
   See also: estate tax, gift tax

Law dictionary. . 2013.

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