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Estate Planning Definitions & Glossary

Below is a helpful list of terms and words found on this site or related to estate and trust planning.
W
Wasting Assets
Assets that deplete over time as the income and principal is required to be distributed either under a contract such as an annuity contract or under the law, such as those laws governing minimum required distributions.
Whole Life Insurance Policy
A life insurance policy that contains a conservative investment element within it. Premiums are usually invested in fixed income securities.  
Will
A legal document completed in accordance with state law that describes how your assets will be distributed upon your death. The will appoints the personal representative (executor) of your estate, may establish testamentary trusts for your spouse or children, guardians for minor children and so forth.
The Family Estate & Legacy Solution, 9100 College Pointe Court, Fort Myers, FL 33919 • tel: 239.334.1141 • fax: 239.334.3965 • email: info@familylegacysolution.com
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Disclaimer: The information contained on this site shall not be construed as legal advice, as the information is general in nature and is not specific to any individual client or jurisdiction. No attorney/client relationship shall be established in the use of this site.While every effort is made to keep the information up to date, there is no warranty, expressed or implied, that the information contained herein is current. One should always consult with his or her own qualified estate planning attorney before acting on any legal or tax matter.