Generation-skipping trust: A trust having a beneficiary who is two or more generations younger than the grantor (called a "skip" person). A generation-skipping tax is imposed on gifts of more than $1.1 million in 2002 ($1.11 million in 2003; $1.5 million in 2004). This tax is in addition to any gift or estate tax on the same amount. (See Dynasty trust.)
Ginnie Mae: A mortgage-backed security issued and backed by the Government National Mortgage Association (GNMA), an agency of the federal government. (See Mortgage-backed security.) Global equity funds: Mutual funds that invest primarily in equity securities of issuers located throughout the world, including the United States. Good 'til canceled (GTC): An order to buy or sell a security that remains open until it is either executed or canceled. Typically, there is a limit of 60 calendar days. Government bond: A direct debt obligation of the U.S. government, including Treasury bonds, notes, bills and savings bonds. Government bond funds: Mutual funds that invest primarily in a blend of U.S. government-backed securities. Grantor: A person who establishes a trust; also called a donor, settler, creator or trustor. Growth-and-income funds: Mutual funds that seek to provide both growth and income, often investing in companies that have earnings growth as well as dividends. Growth funds: Mutual funds that invest in stocks of companies that are believed (or "thought") to have ong-term growth potential. Home |
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