Estate

The term that refers to an individual’s possessions, including real estate, personal property, bank accounts, investments, cash, insurance policies, and anything of value. Real estate is typically the bulk of wealth for a person’s estate. Estates are important to understand, specifically when a person dies, and is referred to as estate planning. This is where a person’s assets are divided up and passed on to family members. 

Read more: Why Estate Planning Is So Important

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