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An “estate” refers to all the possessions a person leaves behind when they die, including liquid investments, real property, vehicles, personal belongings and even intangible assets such as social media accounts. Estate settlement is the process of distributing the deceased‘s possessions according to the will or in accordance with the local estate laws, if there was no will. It also includes day-to-day management of all assets until they are delivered to the beneficiaries or are closed (for example, maintenance of property and filing tax returns).
For more details check out:
• Estate Guide
• Your first steps as an estate representative