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Gross Estate

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Gross estate
The total value of a person's property and assets before accounting for debts, taxes, and liabilities.

Gross Estate
In estate tax, the sum total value of a decedent's assets plus certain additions before any applicable tax credits or deductions. Gross estate includes, but is not limited to: property (including community property and all savings), certain types of gifts made in the last three years of the decedent's life, property or income transferred before death but under which the decedent maintained use and/or enjoyment, revocable transfers, life insurance, and pensions and annuities with death benefits. See also: Taxable estate.

gross estate
The total dollar value of all the assets in an estate before paying debts and taxes.


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even if the state law has specified a specific percentage of the gross estate as the normal fee.
On April 30, the IRS issued proposed regulations providing guidance on the portion of trust property includible in the grantor's gross estate if the grantor has retained certain interests in the property (REG-119532-08).
Tax shelters can be used and you have to make sure the total of your gross estate is known at the market value.
 
 
 
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