Template:What is an estate?

What is an estate?
An estate is a legal entity created as the result of a person’s death. The decedent’s estate is a separate legal entity for federal tax purposes.

An estate consists of real and/or personal property of the deceased person. The estate pays any debts owed by the decedent and then distributes the balance of the estate’s assets to the beneficiaries of the estate.

The estate exists until the final distribution of the assets is made to the heirs and other beneficiaries.

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