Gross Estate

Gross Estate

by Richard C. Wilson & Family Offices Group Association Team

Family Office Definition: Gross Estate

Gross Estate definition:  The gross estate is the net worth (assets less liabilities) of the estate before taxes. The gross estate includes all real and personal property owned by the deceased individual, including life insurance policies and annuities payable to heirs and gifts made within three years of death.  The current fair market value (not acquisition cost) is used when totaling the gross estate.

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