What does Gross Estate mean? Read on to discover the definition & meaning of the term Gross Estate - to help you better understand the language used in insurance policies.
A gross estate is the total amount of personal and real property that a person owns at the time of his or her death. This value of the property is used to calculate the estate tax that is owed to the government. Life insurance policy proceeds payable to the decedent's estate are typically included in the gross estate calculation.
We hope the you have a better understanding of the meaning of Gross Estate.