Your taxable estate will be determined by the assets you have at the time of your death—no matter where those assets are. The IRS will tally your gross estate which includes property owned by you, and the property which passes outside of probate upon your death. This can include your home, any business interests, personal property, death benefits from life insurance, retirement plans, art and jewelry, real estate, bank accounts, investments, stock options, deferred compensation, half of your community property, cash, mortgages, jointly owned assets IRAs and 401(k)s. Your liabilities (loans, funeral expenses, debts, charitable contributions and administration and legal costs as well as assets which pass outright to a surviving spouse) will be deducted from your estate. The balance is considered your taxable estate.