Gross Estate

You live a long, responsible life. You scrimp and save. You put away for retirement, pay off your house, and stash a little nest egg to fund your dream travel plans during your golden years. Then, headed to your retirement party, a stray crossbow dart from a neighbor doing target practice in their backyard hits you between the eyes. Instant death.

All that money and assets you saved go into your estate, where your stuff will get divvied up among your heirs. The total value of all your stuff equals your gross estate.

From there, fees and taxes and other expenses get paid, leaving your net estate. That’s the pile that gets carved up by your friends and relatives.