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An estate consists of everything a person owns at the time of death, including property, bank accounts, investments, and personal possessions.
It is managed by an executor or administrator and distributed in accordance with a will or the rules of intestacy.
Legal Reference:
- Defined under the Inheritance Tax Act 1984 and managed according to the Administration of Estates Act 1925.
Sources:
- Wikipedia – https://en.wikipedia.org/wiki/Estate_(law)
- Wikidata – https://www.wikidata.org/wiki/Q2186896
- Knowledge Graph – https://www.google.com/search?kgmid=/m/038t85
- DBpedia – http://dbpedia.org/resource/Estate_(law)
- Product Ontology – http://www.productontology.org/id/Estate_(law)
