Your estate is, simply, everything that you own. An estate consists of your investments such as stocks, bonds, mutual funds, annuities, bank accounts, and certificates of deposit; your retirement accounts such as individual retirement accounts and 401(k) plans; real estate; and life insurance policies. It also consists of your “stuff”- furniture, appliances, jewelry, collectibles, and all the other items of personal property. The value of your estate is the value of all these assets, less mortgages and any other debt.
*Excerpt from Love, Money, Control: Reinventing Estate Planning by Daniel O. Hands, Robert A. Esperti, and Renno L. Peterson
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