Gross Estate Law and Legal Definition
The total value of a person's estate before making deductions for taxes, funeral expenses, attorney's fees or administration costs is called the gross estate. It is the total dollar value of all property and assets in which an individual had an interest at the time of his/or her death. The gross estate figure is usually calculated for federal income tax purposes. Deductions for outstanding debts, taxes or liabilities are not included in gross estate.
