A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- Estate PlanningArranging in advance how your assets will be managed and passed on, using tools like wills and beneficiary designations.
- WillA legal document that spells out who gets your property and who cares for your children after you die.
- BeneficiaryA person or entity you choose to receive assets from a will, trust, account, or insurance policy.
- Generational WealthAssets passed down from one generation to the next, giving heirs a financial head start.
- EstateEverything you own at death, including money, property, and belongings, minus what you owe.
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