gross estate Synonyms
No Synonyms and anytonyms found
gross estate Meaning
Wordnet
gross estate (n)
the total valuation of the estate's assets at the time of the person's death
gross estate Sentence Examples
- The gross estate includes all property owned by the decedent at the time of their death.
- The fair market value of the gross estate is used to determine the amount of estate tax owed.
- The gross estate does not include property that is owned by the decedent's spouse or children.
- The gross estate can be reduced by certain deductions, such as funeral expenses and debts.
- The Internal Revenue Service (IRS) is responsible for valuing the gross estate.
- The gross estate of a person who dies without a will is distributed according to the laws of intestacy.
- The executor of an estate is responsible for administering the gross estate and distributing the assets to the beneficiaries.
- A gross estate can be subject to estate tax, inheritance tax, or both.
- The gross estate of a non-resident alien is subject to a special set of rules.
- The value of the gross estate can fluctuate over time, depending on the value of the assets included in the estate.
FAQs About the word gross estate
the total valuation of the estate's assets at the time of the person's death
No synonyms found.
No antonyms found.
The gross estate includes all property owned by the decedent at the time of their death.
The fair market value of the gross estate is used to determine the amount of estate tax owed.
The gross estate does not include property that is owned by the decedent's spouse or children.
The gross estate can be reduced by certain deductions, such as funeral expenses and debts.
