net estate


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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
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in periodicals archive ?
This TA provides for the settlement of the tax obligations of estates of decedents who died on or before December 31, 2017, with the payment of TA of 6 percent of the net estate value.
After settling affairs, the net estate was [euro]4,812.
Now figures released by the probate registry in Winchester show that he left a gross estate of [pounds sterling]18,016, and that after his outstanding affairs were released, a net estate of [pounds sterling]4,281.
According to the Office for National Statistics, in 2016 the average net estate size for UK women with "identified wealth" was PS246,000 (PS272,000 for men).
The six-page version, fixed the estate amnesty rate at six percent for each decedent's total net estate tax at the time of date without penalties at every stage of transfer.
31, 2017, the government would collect only 6 percent of the decedent's total net estate at the time of death.
'I am innocent until proven guilty, and entitled to the personal effects and household goods of my late husband, and a life interest in the residue of the net estate,' she indicated.
With theamnesty, Angara envisions "a fresh start" and that "all parties involved may be absolved and unburdened by the sins of the past." Under the Senate version, taxpayers can avail of a reprieve from all estatetaxes, and instead pay six percent based on the decedent's total net estate.
The questioner can make a will, but it can cover no more than one-third of his net estate and must be drafted in agreement with his legal heirs.
The main residence nil-rate band will be tapered by PS1 for every PS2 where a net estate, before any IHT exemptions or reliefs, exceeds PS2m.
Should you decide to give more than ten per cent of your net estate to charity, then under current legislation this can also lower your inheritance tax liability from 40 per cent to 36 per cent.