Estate

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DEFINITION of 'Estate'

All of the valuable things an individual owns, such as real estate, art collections, collectibles, antiques, jewelry, investments and life insurance.

BREAKING DOWN 'Estate'

The value of a personal estate usually becomes very important upon the death of the person in question. Those in line for inheritance often have to pay an inheritance tax on the estate. This tax can be very large, forcing the beneficiary to sell some of the inherited assets in order to pay the tax bill.

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    You cannot put your IRA in a trust while you are living. You can, however, name a trust as the beneficiary of your IRA and ... Read Full Answer >>
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