Smart Women Protect Their Assets: Essential Information for Every Woman About Wills, Trusts, and More

Chapter 2. What Exactly Does Your Estate Include?

Estate. Sounds dramatic, doesn’t it? If you’re like me, the first things you think of are rolling hills and a mile-long tree-lined driveway leading to a palatial homestead. But in the world of estate planning, your estate is much different. Your estate, quite simply, is everything you own at the time of death. And yes, I mean everything, from the money in your bank accounts to your car to the sterling silver passed down from your great aunt.

Why Is Knowing Exactly What You Have So Important?

As you’ll learn in Chapter 3, “Is It Really That Important to Think About Taxes?” estate taxes are calculated based on what you own, or are entitled to, at your death. Inheritance taxes, generally, ...