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Today's Terms
Incapacity / Incompetent
Definition:
Legally unable to manage one's own affairs due to mental disability. This may be temporary or permanent.
Gross Estate
Definition:
The value of an estate before the debts are paid. In California Probate statutory attorneys and personal representatives fees are usually calculated based on the gross value of the estate, so that the value of the home is calculated before deducting the amount due on the mortgage.
Federal Estate Taxes
Definition:
Taxes imposed by the US Government on the value of a person's estate upon his or her death.
More Estate Planning Terms >
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