Adjusted Gross Estate


DEFINITION of 'Adjusted Gross Estate'

The net worth of the deceased's estate after deducting the cost of any outstanding debts and admistrative costs associated with the individual. The adjusted gross estate is also the value in which estate taxes are levied upon.

BREAKING DOWN 'Adjusted Gross Estate'

For example, assets that are considered to be part of the gross estate would include any property, cash or investments owned by the deceased. However, if a mortgage is owed on the property, the value of the mortgage would be deducted from the value of the estate. Therefore no estate taxes would be calculated on assets that the deceased does not own.

  1. Estate Tax

    A tax levied on an heir's inherited portion of an estate if the ...
  2. Taxable Estate

    The total value of a deceased person's assets that are subject ...
  3. Gross Estate

    The total dollar value of all property and assets in which an ...
  4. Beneficiary

    Anybody who gains an advantage and/or profits from something. ...
  5. Estate

    All of the valuable things an individual owns, such as real estate, ...
  6. Taxes

    An involuntary fee levied on corporations or individuals that ...
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