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Wealth Management Glossary

Par Value Passive Activity Payable Date Per Capita Per Stirpes Personal Property Personal Representative Physical Certificate Portfolio Power Power Of Appointment Power Of Attorney Precatory Words Preferred Stock Prime Rate Principal Principal Portfolio Probate Court Probate Of Will/Probate Prospectus Proxy Prudent Investor Rule

Passive Activity A business deal or venture where an individual is a silent partner (that is, not actively involved in the management of the venture or its properties). Losses from such passive activities are limited in their deductibility to offset income from other passive activities.

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