Definition of "estate", as it applies to life insurance? - equitable life insurance

As it is for this sentence: "The advantage of naming the different levels of the beneficiaries for insurance benefits on the beneficiary's assets to receive and to avoid probate fees."
I have these definitions of "property", but you do not know one thing: If 1) the assets of a deceased, bankrupt, etc., when a total of 2) all assets, including property and debts, the death of 3) Fair were left: the goods which are entitled to the beneficial ownership is legally represented by a trustee or a person held in equity as an administrator as (such as employment or power) .. ... be applied much more! Please help me, I'm stuck!