net estate


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net estate

n. the remaining estate of a person who has died, calculated by taking the value of all assets and subtracting all debts of the person who died, including funeral costs, expenses of administering the estate, and any other allowable deductions. The federal estate tax (and/or state inheritance tax where it exists) is then based on the net estate value. (See: gift tax)

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The percentage of both the total taxable estate and net estate tax reported on these returns followed a similar pattern.
Three-fourths of your net estate if no child but at least one parent is living
Probate records revealed last week that Lambert - who was awarded the OBE for services to film and television production in 2002 - left the bulk of her net estate to friends and family with around EUR50,000 to charity.
Figure H shows the total amount of gross estate and net estate tax, in constant 2004 dollars, reported on taxable returns between 1916 and 2004.
However, the federal court may not find that the devisee's specific percentage of the net estate is worth a specific dollar amount, because it is the province of the probate court to determine the dollar amount of the net estate after liquidating assets and paying claims.
Mr Walker believes that in spite of the raising of inheritance tax threshold, there is still a significant number of families facing huge tax bills particularly those with net estate values exceeding pounds 500,000'Our aim is to work with accountants and independent financial advisers to help educate their clients about the use of trusts, inheritance tax planning and other legal tools in order to reduce tax loss.
FORMER trainer Ken Cundell, who died in October 2003 at the age of 88, left net estate valued at pounds 888,169.
As for inheritance tax, a mortgage would reduce the taxable value of your home,but the value of investments bought with the mortgage money would put your net estate right back where it started
However, because Medicaid has a claim against the estate, the net estate most likely will not be large enough to be subject to estate tax.
Geraldine Mary Cadbury died in February, aged 98, with a net estate worth pounds 1.
5 Figure D Net Estate Tax, Filing Years 2001-2005, by Size of Gross Estate [Money amounts are in thousands of dollars) 2001 2002 Net estate Percentage Net estate Size of gross estate tax of total tax (1) (2) (3) Total 23,531,334 100.
He left a net estate of pounds 1,250,455 to his brothers, Alan and Donald, and sisters, Ruth and Rosemary.