The value of the property in a decedent's estate after allowable exclusions, exemptions, and deductions.
The value upon which estate taxes are calculated by the federal government.
The total assets that will be taxed at your death. To calculate you taxable estate, you first determine you "gross estate", then subtract any marital or charitable deductions.
The gross estate reduced by expenses and debts and charitable contributions.
everything you own or have control over at the time of your death including (1) assets owned by a living trust; and (2) assets which will pass by contract or operation of law to a beneficiary or joint owner at your death. Compare to "Probate Estate."
An amount determined by subtracting the allowable deductions from the gross estate. (All that a decedent owns -- or has an interest in -- that is not exempt from estate taxes.)
the gross estate minus all deductions; this determines the estate tax
The portion of an estate that is subject to estate taxes.
Gross estate reduced by allowable deductions; the amount subject to the estate tax.
The amount you have to pay estate tax on. This is your gross estate less any expenses, debts, taxes, certain deductions, and exemptions.
For estate tax purposes, the excess of a decedent's gross estate over the deduction allowed.
