Term of the Day

prospectus

Legally mandated document published by every firm offering its securities to public for purchase. It must comply with strict legal requirements and is filedfor approvalwith the country's securities inspectorate such as the Securities & exchangecommission (SEC) of the US, or the Securities & investmentboard (SIB) of the UK. A prospectus must disclose essential information such as (1) ...
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Usage Example
The first place you should look for information when considering investing in a mutual fund is the fund's prospectus.
Term of the Day

living trust

trust created for the trustor and administered by another party while thetrustor is still alive. A living trust can be either revocable or irrevocable. A living trust avoidsprobate and therefore gets assets distributed significantly more quickly than a willdoes. It also offers a higher level of confidentiality, asprobate proceedings are a matter of public record. Additionally, trusts are...
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Usage Example
Another essential step is arranging a revocable living trust that includes a healthcare proxy and durable power of attorney.

Notable Quotable
"The lack of money is the root of all evil." 
-George Bernard Shaw