Annuity
A fixed sum payable at specified intervals.
Beneficiary
The person who receives the benefits of a trust, 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.
Guardian
A trust created by a will, which is scheduled to occur after the will maker's death.
Power of Attorney
A written document given b one person or party to another, authorizing the latter to act for  the former 
Testamentary Trust
A trust created by a will, which is scheduled to occur after the will maker's death.
Trust
A fiduciary relationship calling for a trustee to hold the title to assets for the benefit of the beneficiary. 
Trustee
An individual or company who manages assets on behalf of another.
Will
A document stating how and to whom a person wants his/her property transferred after death.

 

 

Independent legal and accounting/tax planning advice should be sought when drafting your will