Will
Estate Planning
A clear and complete plan of what should happen upon your death.
Wage
monetary compensation (or remuneration, personnel expenses, labor) paid by an employer to an employee in exchange for work done.
Dividends
a reward, cash, or etc., that a company gives to its shareholders. Dividends can be issued in various forms, such as cash payment, stocks or any other form. A company's dividend is decided by its board of directors and it requires the shareholders' approval.
Rental Income
Income received from rental properties or goods
Disposable Income
Income a person has left after all taxes have been paid – Used to buy necessities
Trade-Offs
Giving up one thing for another.
Salary
form of payment from an employer to an employee, which may be specified in an employment contract.
Stock Options
Contracts given to an employee by an employer, contractors, consultants, and investors. The contracts grant the right right to buy or exercise a set number of shares of the company stock at a pre-set price, also known as the grant price.
Business Income
income received from the sale of products or services.
Discretionary Income
Income left after disposable income, which can be saved or spent on luxury items or entertainment
How old must you be to plan your estate ?
18
Comisson
a service charge assessed by a broker or investment advisor for providing investment advice or handling purchases and sales of securities for a client.
Capital Gain
profit one earns on the sale of an asset like stocks, bonds or real estate. It results in capital gain when the selling price of an asset exceeds its purchase price.
Inheritance
assets passed down to individuals after someone dies.
Active Income
Income received from performing a service and includes wages, tips, salaries, commissions, and income from businesses in which there is material participation.
Beneficiary
a person who derives advantage from something, especially a trust, will, or life insurance policy.
Pension
payment made to people who have retired from work. In addition, many people pay into a pension scheme throughout their working lives – a pension scheme is a long-term savings plan which provides people with additional income in retirement.
Annuity
series of payments made at equal intervals.
Lump Sum Distributions
one-time payment for an entire amount due, rather than payments broken into smaller installments. In certain cases, lump-sum distributions receive special tax treatment.
Portfolio Income
money received from investments, dividends, interest, royalties from an investment, and capital gains.
Testator
Unemployment Compensation
paid by the state to unemployed workers who have lost their jobs due to layoffs or retrenchment. It is meant to provide a source of income for jobless workers until they can find employment.
Passive income
income generated is when you make money from an enterprise where you’re not materially involved. This means you’re the silent partner, the investor, the person who is not running the show.
Gambling Gains
any money that is generated from games of chance or wagers on events with uncertain outcomes.
Passive Income
income generated is when you make money from an enterprise where you’re not materially involved. This means you’re the silent partner, the investor, the person who is not running the show.