Net Estate Legal Meaning and Definition

Here is a simplified definition of the legal term Net Estate.

Net Estate (noun)

The term "net estate" refers to the total value of a person's property and assets that remain after all debts, expenses like funeral and administrative costs, and taxes have been paid following their death. It is essentially the amount of money and property that can be legally passed on to heirs or beneficiaries according to the deceased person's will or state laws.