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

If a trust has both income and principal beneficiaries, and income is invested for the benefit of the income beneficiaries, the assets in the account are kept separate. Totals for the principal assets are shown in the report section that shows the principal portfolio.