Taxable Estate Definition
means the value
of a decedent's assets
that are subject to taxation - minus liabilities, funeral and administration expenses, losses from casualty or theft during the administration of the estate, charitable transfers and marital deduction. The taxable estate includes cash, real estate, trusts, annuities, insurance
policies and any other assets. Individuals may transfer their assets to minimize estate taxes, but certain types of assets transferred within three years of the owner's death may be added back to the taxable estate.