Definitions from the Web
Net Estate
Description:
The term "net estate" refers to the value of a person's assets after subtracting any debts, liabilities, and taxes owed at the time of their death. It represents the remaining worth of an individual's estate that can be distributed to beneficiaries as outlined in their will or determined by laws of inheritance.
Sample Sentences:
- After all the debts and taxes were settled, the net estate was divided equally among the children.
- Knowing the value of his net estate gave John a sense of relief, as he could now plan his legacy.
- The lawyer advised the heirs to carefully assess the net estate before accepting the distribution.
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