Homonym: estates (Land)
An estate refers to all the assets and liabilities owned by an individual at the time of their death. This includes properties, bank accounts, investments, and personal belongings, as well as any debts owed. The management and distribution of an estate are typically handled through a legal process called probate, which ensures that the deceased's wishes are honored and creditors are paid.
Estates can vary in size and complexity, from small estates with minimal assets to large estates involving significant wealth and multiple properties. The distribution of an estate is often outlined in a legal document known as a will, which specifies how the assets should be divided among heirs or beneficiaries.