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What is an estate?

An estate is the total property and assets an individual owns upon his or her death minus taxes and any debt owed. Keep in mind these assets can be both physical and digital. Physical assets are what people usually think of: property, cash, jewelry, etc. Digital assets may include items such as social media accounts, emails, videos, photos, and blogs. Outlining estate plans for both physical and digital property prior to death ensures these assets will be managed and allocated according to the original owner’s wishes. Estate plans also prevent confusion, unnecessary court involvement, or the possibility of digital information left floating in cyberspace.

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