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