Death does not instantly transfer ownership in an orderly way. An estate is the total property, assets, and obligations left by a person at death, administered under court supervision or by a trusted fiduciary according to a will or intestacy rules.

The estate includes real property, bank accounts, investments, personal belongings, and also debts that must be paid. An executor or administrator gathers assets, pays valid claims, files required tax returns, and distributes what remains to beneficiaries or heirs. Some assets pass outside the probate estate by beneficiary designation or joint ownership.

Estate administration protects creditors and ensures orderly transfer. Disputes over wills, valuations, and fiduciary conduct are resolved in probate or similar courts. Planning during life can simplify administration and reduce conflict among survivors.

• Property and obligations of a deceased person
• Administered by an executor or administrator
• Used to pay debts and distribute to successors
• May exclude non-probate assets