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net estate

   Also found in: Legal 0.01 sec.
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.net estate - the estate remaining after debts and funeral expenses and administrative expenses have been deducted from the gross estate; the estate then left to be distributed (and subject to federal and state inheritance taxes)
estate - everything you own; all of your assets (whether real property or personal property) and liabilities
revenue enhancement, tax, taxation - charge against a citizen's person or property or activity for the support of government


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Such net estate would be the subject matter of the estate planning.
But where the net estate value exceeds $100,000, the Act provides that the spouse is first entitled to $100,000, and then of the residue (the rest) of the estate, * if you leave a spouse and one child surviving, one-half goes to the spouse; and * if you leave a spouse and more than one child surviving, onethird goes to the spouse.
202, read together, require that the testamentary trust established for Son and charity will share the $1,000,000 of net estate income.
 
 
 
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