Net estate is the remainder of the estate that gets distributed to heirs and beneficiaries after relevant expenses have been deducted, such as taxes, debt, probate administration fees, and funeral expenses. The decedent’s estate at the time of their death is referred to as the gross estate before these expenses are deducted.
See also: probate estate, net probate estate, and gross estate.
[Last updated in July of 2023 by the Wex Definitions Team]
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