A decedent’s estate is the sum total of everything that the decedent owned at the time of death, including all real and personal property before debts, taxes, or any other adjustments. The gross estate is the financial equivalent of the decedent’s estate if it were to be sold at market price. The gross estate is the amount that will be subject to estate tax.
The will directs the executor or administrator to distribute the decedent’s estate if the estate has assets to distribute, and to pay all bills of the estate.