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estate definition
1) all that one owns in real estate and other assets. 2) commonly, all the possessions
of one who has died and are subject to probate (administration supervised by the
court) and distribution to heirs and beneficiaries, all the possessions which a
guardian manages for a ward (young person requiring protection and administration
of affairs), or assets a conservator manages for a conservatee (a person whose physical
or mental lack of competence requires administration of his/her affairs). 3) an
alternative term for real property interest which is used in conjunction with another
defining word, like "life estate," "estate for years," or "real estate. "
See also conservator guardian life estate probate real estate will
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