Legal Definition of Estate:  (a) Property in which someone has an interest; a person’s right to property, such as real estate. (b) An estate is composed of a person’s total possessions, including money, securities, land, etcetera. (The word estate is synonymous with the word property.) | Get a clear understanding of the legal definition of estate and how it impacts your business operations. Learn about the different aspects of estate, including property interests and total possessions. Discover the importance of understanding estate for asset protection, estate planning, tax planning, and business succession. Make informed decisions and secure your financial future