W2: Vocabularies Blog

1. Estate /ɪˈsteɪt/  
(n)a large area of land in the country which is owned by a family or an organization and is often used for growing crops or raising animals.
i.e. 

2. Estate planning  is the process of anticipating and arranging for the disposal of an estate.

3. Family limited partnership 
are frequently used to move wealth from one generation to another.

4. Buy-sell agreement 
also known as a buyout agreement, is a binding agreement between co-owners of a business that governs what happens if a co-owner dies or is otherwise forced to leave the business, or chooses to leave the business. we use the buy-sell agreement when we want to make a trade with another company.



5. Living trust 
a trust that becomes effective during the lifetime of the settlor —called also inter vios trust.