What Does Estate Mean?

An estate, in common law, is the net worth of a person at any point in time alive or dead. It is the sum of a person's assets – legal rights, interests and entitlements to property of any kind – less all liabilities at that time.

What does estate mean after death?

When a relative passes away, their estate includes everything they owned at the time of their death. Probating an estate is the legal process of paying a relative's debts and distributing the estate's property.

What does the estate of someone mean?

Their “estate” is the property they owned when they died. To transfer or inherit property after someone dies, you must usually go to court.