The first two options are (probate or gross)

The property you own in your own name that can be transferred according to the terms of a will (or under intestate laws, if you have no valid will) is your estate. By contrast, all property you own at the time of your death, including all property that might be subject to federal estate taxes (for example, life insurance plans, jointly held property with rights of survivorship, and property passing under certain employee benefit plans, is your estate). The Estate Planning Process Identify the steps in the estate planning process: 1. 2. 3. 4. 5. 6. z. The property you own in your own name that can be transferred according to the terms of a will (or under intestate laws, if you have no valid will) is your estate. By contrast, all property you own at the time of your death, including all property that might be subject to federal estate taxes (for example, life insurance plans, jointly held property with rights of survivorship, and property passing under certain employee benefit plans, is your estate) The Estimate estate transfer costs. Gather comprehensive and accurate data. Idei Assess your family situation and set estate planning goals. 1. Designate the beneficiaries of your estate's assets. 2. 3. List all your assets and determine the ownership and value of your estate. 4. Review the plan periodically and revise it as necessary. 5. Formulate and implement your plan. 6. 7. The property you own in your own name that can be transferred according to the terms of a will (or under intestate laws, if you have no valid will) is your estate. By contrast, all property you own at the time of your death, including all property that might be subject to federal estate taxes (for example, life insurance plans, jointly held property with rights of survivorship, and property passing under certain employee benefit plans, is your estate). The Estate Planning Process Identify the steps in the estate planning process: 1. 2. 3. 4. 5. 6. z. The property you own in your own name that can be transferred according to the terms of a will (or under intestate laws, if you have no valid will) is your estate. By contrast, all property you own at the time of your death, including all property that might be subject to federal estate taxes (for example, life insurance plans, jointly held property with rights of survivorship, and property passing under certain employee benefit plans, is your estate) The Estimate estate transfer costs. Gather comprehensive and accurate data. Idei Assess your family situation and set estate planning goals. 1. Designate the beneficiaries of your estate's assets. 2. 3. List all your assets and determine the ownership and value of your estate. 4. Review the plan periodically and revise it as necessary. 5. Formulate and implement your plan. 6. 7