Definition - What does Estate mean?

Estate is a term that refers to everything that a person owns, including property, money, etc. It may also be explained as all the assets and possessions of a person at his or her death. These assets are subject to distribution and probate to beneficiaries and heirs.

Justipedia explains Estate

Estate may also be defined as all the assets including property, bank balance, etc., which a guardian is responsible for until the true heir is of age. It may also be referred to as the assets that a conservator manages and holds for a conservatee (a person who is not able to manage his or her financial affairs because they mental or physical competence).

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