• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off

Card Range To Study



Play button


Play button




Click to flip

Use LEFT and RIGHT arrow keys to navigate between flashcards;

Use UP and DOWN arrow keys to flip the card;

H to show hint;

A reads text to speech;

15 Cards in this Set

  • Front
  • Back
Reverse Mortgage
A loan against the equity in the borrower's home in which the lender makes tax-free monthly payments to the borrower.
Are people who recieve property from someone who has died.
Is a legal documen that tells how you want your estate to be distributed after your death.
A person can make a will and later make small changes with a document
Power of Attorney
Is a legal document authorizing someone to act on your behalf.
Is a legal document in which an individual ( the trustor ) gibes someone else ( the Trustee ) control of property, for ultimate distribution to another person ( the beneficiary ).
Estate Tax
A tax on property transferred from deceased people to their heirs.
Inheritance Tax
Is a tax on an heir who receives property from a deceased person's estate.
Gift Tax
Is a tax on a gift of money or property, to be paid by the giver, not the receiver, of the gift.
Individual Retirement account (IRA)
Is a retirement savings plan that allows individuals to set aside up to $3,000 per year ( or $6,000 for a married couple filing jointly) and delay paying tax on the earnings untill they begin withdrawing it at age 59 1/2 or later
Keogh Plan
Is a tax- deferred retirement saings plan available to self-employed individuals and their employees.
Defined- benefit Plan
Such as a pension, is a company- sponsored retirement plan in which employees receive, at normal retirement age, a specified monthly amount based on wages earned and number of years of service.
Defined-Contribution Plan
Is a company - sponsored retirement plan in which employees may choose to contribute part of their salary as a tax-deferred investment.
Is all that a person owns, less debts owed, at the time of the person's death.
Estate planning
Is preparing a plan for transferring property during one's lifetime and at one's death.