gross estate


gross estate
Income subject to federal income The property owned by a decedent that will be subject to the Federal estate It can be distinguished from the probate estate which is property actually subject to administration by the administrator or executor of an estate. I.R.C. No.No. 2031-2044.

Black's law dictionary. . 1990.

Look at other dictionaries:

  • gross estate — see estate 3a Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. gross estate …   Law dictionary

  • Gross Estate — The total dollar value of all property and assets in which an individual had an interest at the time of his or her death. The gross estate figure is commonly produced for federal income tax purposes. It does not include any deductions for… …   Investment dictionary

  • gross estate — noun the total valuation of the estate s assets at the time of the person s death • Hypernyms: ↑estate …   Useful english dictionary

  • gross estate — The total value of a person s property and assets before accounting for debts, taxes, and liabilities ( liability). Bloomberg Financial Dictionary …   Financial and business terms

  • gross estate of decedent — The value of all property left by a decedent, determined as of the date of death. For federal tax: the value of all property to the extent of the decedent s interest therein at the time of his death; virtually all property transferred either by… …   Ballentine's law dictionary

  • adjusted gross estate — The gross estate less I.R.C. No.No. 2053 and 2054 expenses equals the adjusted gross estate. Generally, I.R.C. No.No. 2053 and 2054 expenses include administration expenses, debts of the decedent, and losses incurred during the settlement of the… …   Black's law dictionary

  • 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. For example, assets …   Investment dictionary

  • estate — es·tate /i stāt/ n [Anglo French estat, literally, state, condition, from Old French, from Latin status, from stare to stand] 1: the interest of a particular degree, nature, quality, or extent that one has in land or other property compare fee;… …   Law dictionary

  • gross — 1 / grōs/ adj [Middle English, immediately obvious, from Middle French gros thick, coarse, from Latin grossus] 1: flagrant or extreme esp. in badness or offensiveness: of very blameworthy character a gross violation of the rules of ethics a gross …   Law dictionary

  • Estate tax in the United States — This article is about Estate tax in the United States. For other countries, see Inheritance tax. Part of a series on Taxation Taxation in the United States …   Wikipedia


Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.