An Estate or Residual Estate is your total assets that are left over after all debts, funeral and testamentary expenses and gifts are provided for.
What makes up my estate?
Real Property: Real estate, including homes, land, and other immovable assets, is a significant component of many estates.
Personal Property: This includes movable possessions like furniture, jewellery, artwork, and everyday items that contribute to the overall value of the estate.
Financial Accounts: Bank accounts, retirement funds, investment portfolios, and other financial holdings fall under the financial aspect of an estate.
Digital Assets: In our increasingly digital world, digital assets such as online accounts, cryptocurrencies, and intellectual property are becoming more relevant in estate planning.