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Literally, the will last executed by an individual, which revokes any former existing wills.
The flexibility of being able to obtain the cash value of investments without incurring significant loss.
A trust that takes effect while the settlor is still alive.
A legal document in which an individual states, in advance of final illness or injury, his or her wishes regarding procedures and equipment designed to extend life.
A sales charge associated with buying shares in some mutual funds. (See No-Load Fund.)
The relationship between the amount of a home loan and the total value of the property. For example, if you receive a loan of $95,000 on a home that costs $100,000, the loan-to-value ratio is 95 percent.
A commitment from a lender to make a loan at a preset interest rate at some future date, usually for not more than 60 days. A fee may be charged to "lock-in" a rate.