What is an Estate?

As many estate planning attorneys will attest, the reason many people do not make estate planning more of a priority is because they do not think they have an “estate.” At first, I thought that response was an attempt to change the subject but, as I started to hear it more and more I realized that they actually believe it to be the case.

So, what is an “estate”? If you sift through the various definitions of estate in a Merriam-Webster’s Dictionary, you eventually come to the type of estate I deal with day in and day out...your estate is your “possessions and property.”

Therefore, if you own anything, you have an estate.

Watch for next week’s post about your “Probate Estate.”