- Annuity
- A fixed sum payable at specified intervals.
- Beneficiary
- The person who receives the benefits of a trust or bequest, or the recipient of the proceeds of a life insurance policy.
- Bequest
- In wills and estates, the gift part of the estate to a beneficiary.
- Charitable Trust
- A trust established for charitable purposes.
- Executor (or Personal Representative)
- A person named in a will to carry out the provisions of that will.
- Power of Attorney
- A written document given by one person or party to another, authorizing the latter to act for the former, while the former is still alive.
- Testamentary Trust
- A trust created by a will, which is takes effect after the will maker's death.
- Trust
- An agreement calling for a trustee to hold the title to assets for the benefit of one or more beneficiaries.
- Trustee
- An individual or firm that manages assets on behalf of another.
- Will
- A document stating, amongst other things, how and to whom a person wants his/her property transferred after death.
Professional, independent, legal, accounting and tax planning advice should be sought when preparing a will
