The term PERSON'S MONEY AND PROPERTY can be summarized as ESTATE, which is a six-letter word. An ESTATE is the total sum of a person's money and property, including real ESTATE, investments, and personal possessions. It is usually used to refer to the assets of a deceased person, but it can also refer to the assets of a living person. ESTATE planning is the process of managing and protecting a person's ESTATE during their lifetime and after their death.