Net estate definition

Net estate means the gross estate less those items specified in Iowa Code section 450.12 as deductions in determining the net shares of property of each heir, beneficiary, surviving joint tenant, or transferee. In re Estate of Waddington, 201 N.W.2d 77 (Iowa 1972). The total of all net shares of an estate must equal the total of the net estate.
Net estate means the gross estate, as defined by the estate, inheritance, or death tax law of the particular state, country, or political subdivision whose tax is being apportioned, less the deductions allowed.
Net estate means the real and personal property of a decedent, except property used for the support of the surviving spouse and children and for the payment of expenses of administration, funeral expenses, claims and taxes.

Examples of Net estate in a sentence

  • In this connection, see section 2001 and the regulations thereunder.(5) Net estate tax payable.

  • Box F Take away the figure in box E from the figure in box D (D minus E) – Net estate in the UK for the grant.

  • Note requirements of local rule 20-908.GENERAL INFORMATION:  Petitioner- Melody Milani; decedent’s daughter. DOD 03/18/20 Net estate $220,000.00 of which $20,000.00 is personal property. Notice ok.

  • Net estate is the difference between the GROSS estate LESS ALLOWABLE deductions.Estate Tax = 6%(Gross Estate – Allowable deductions) Gross Estate shall include all the properties of the decedent at the time of death, real or personal, tangible or intangible, wherever situated but excluding the exclusive properties of the surviving spouse.

  • GENERAL INFORMATION: Petition for Letters of Administration with full authority under IAEA Petitioner – Jesse Ochoa, son Petitioner seeks bond of $511,476. Net estate value $511,476 in real property. Notice of pending action filed 01/07/21 re Pr.C. § 850.


More Definitions of Net estate

Net estate means the real and personal property of a decedent, except property used
Net estate means the estate of a deceased person after payment of reasonable funeral expenses, debts and liabilities, expenses of obtaining probate or letters of administration, other reasonable expenses of administration and estate duty, if any;
Net estate means the net estate as determined under the provisions of the Internal Revenue Code.
Net estate means a decedent’s property excluding:
Net estate means the residue of an estate remaining after the discharge or settlement of the claims of creditors.
Net estate means the estate of a decedent, exclusive of family allowances, costs of administration, and all lawful claims against the estate.
Net estate means the real and personal property of a decedent, exclusive of homestead rights, exempt property, the family allowance and enforceable claims against the estate.