gross estate

The total dollar value of all property and assets in which an individual had an interest at the time of his or her death.

Investopedia Says:
The gross estate figure is commonly produced for federal income tax purposes. It does not include any deductions for outstanding debts, taxes or liabilities; it is the gross value of the deceased person's assets.

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Total value of a person's assets before liabilities such as debts and taxes are deducted. After someone dies, the executor of the will makes an assessment of the stocks, bonds, real estate, and personal possessions that comprise the gross estate. Debts and taxes are paid, as are funeral expenses and estate administration costs. Beneficiaries of the will then receive their portion of the remainder, which is called the net estate.

All the real and personal property owned by a decedent at the time of his or her death.

The calculation of the value of the gross estate is the first step in the computation that determines whether any estate tax is owed to federal or state governments. Federal and state laws define gross estate for purposes of taxation. Under federal law, the gross estate includes proceeds of life insurance policies that are payable to the decedent's estate, as well as policies to which the decedent retained "incidents of ownership" until his or her death, such as the right to change beneficiaries or to borrow against the cash surrender value of the policy.

See: estate and gift taxes.