Gross estate

The gross estate refers to the total value of all assets and property a person owns at the time of their death. This includes real estate, bank accounts, investments, life insurance policies, personal belongings, and other financial interests. It's basically a comprehensive snapshot of everything the deceased owned, before any debts, expenses, or taxes are deducted. The gross estate is an important figure used to determine estate taxes owed and to facilitate the transfer of assets to heirs or beneficiaries.