When a person dies, the gross estate is:

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The federal estate and gift tax applies to the gross estate of a deceased person, which includes all property that the individual owned or had an interest in at the time of death. This includes assets such as real estate, investments, life insurance proceeds, and personal property. The gross estate is then adjusted for certain deductions and gifts made during the decedent's lifetime. The tax rate varies based on the size of the estate, but it can be up to 40%.

When a Person Dies, the Gross Estate Is