1. Revocable Living Trust – A trust that can be amended or abandoned during the continuance of the trustor, and becomes irrevocable upon their death.
2. Living Will – A legal document that specifies an existent’s wishes for medical treatment and end- of- life care.
3. Power of Attorney – A legal document that gives an individual the authority to act on behalf of another person in fiscal or legal matters.
4. Factor – The person named in an existent’s will who's responsible for managing their estate after their death.
5. Trustee – The person or institution responsible for managing a trust’s means and distribution according to its terms and the law.
6. Devisee – The person or reality designated to admit means
7. Special requirements Trust – A trust that's created to give fiscal support for individualities with disabilities or special requirements, without affecting their eligibility for government benefits.
8. Livery Prudent Investor Act( UPIA) – A law that requires trustees to invest trust means in a manner that's both prudent and in the stylish interests of the heirs.
9. Probate – The legal process of administering an existent’s estate after their death, including validating their will and distributing their means.
10. Living Trust – A trust that's created during an existent’s continuance and can be used to manage their means during their continuance and after their death.
11. Asset Protection – The process of guarding one’s means from implicit creditors or legal judgments.
12. Charitable Remainder Annuity Trust – A trust that pays a fixed periodic income to the patron for a specified period of time, with the remainder going to a charitable association.
13. Charitable Lead Annuity Trust – A trust that pays a fixed periodic income to a charitable association for a specified period of time, with the remainder going to the patron’s heirs.
14. Livery Gift to Minors Act( UGMA) – A law that allows parents or guardians to transfer means to their children without setting up a trust or paying gift levies.
15. Health Savings Account( HSA) – A duty- advantaged account that allows individualities to save plutocrat for medical charges, with benefactions and recessions being duty-free.
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