| A | B |
|---|
| IRA | A retirement savings plan allows an individual to set aside money each year and delay paying taxes on earnings until retirement |
| Roth IRA | A retirement savings plan offers tax-free growth, no taxes on withdrawals |
| Pension | A company sponsored retirement plan in which employees receive a specified monthly amount after retirement |
| Tax Deferred | Pay taxes when withdraw funds at retirement |
| 401K | Retirement savings plan funded by employee contributions and matching contributions from their employers |
| 403B | Tax deferred retirement plan available to employees of educational institutions and certain non-profit organizations |
| Heirs | People who receive property and/or money from someone who has died |
| Estate | All a person owns, less debt, at the time of death |
| Will | Legal document which tells how you want your estate to be distributed after your death |
| Codicil | A document used to make small changes to a will |
| Living Will | Legal document which patients instruct health-care providers about their medical wishes should they become incapacitated |
| Trust | A legal document which an individual gives someone else control of property for distribution to another person |
| Power of Attorney | A legal document authorizing someone to act on your behalf |
| Estate Tax | Tax on property transferred from deceased person to their heirs |
| Inheritance Tax | Tax an heir who receives property from a deceased persons estate |
| Gift Tax | Tax on a gift of money or property, to be paid by the giver of the gift |
