Estate

In real estate, an estate is the total amount of all of the real property and personal property that a person owned upon death. Real property refers to all land and permanent things on the land, including trees, minerals and structures. Personal property may include items such as furniture, money and vehicles. The future of an individual's estate upon the person's death is typically determined by a will. A person can detail what should happen to the real and personal properties upon his or her death. Often, a person leaves his or her real and personal properties to a spouse, children or other family members or close friends. A person can also leave parts of or the entirety of his or her estate to a charity. The charity can then sell the property or use it however it wishes, based on the individual's wishes detailed in the will.