What Is a Pour-Over Will? A pour-over will is a legal document that ensures an individual’s remaining assets will automatically transfer to a previously established trust upon their death. Key Takeaways With a pour-over will, an individual’s remaining assets will automatically transfer to a previously established trust upon their death.Pour-over wills can be used with
What Is Poverty? The term poverty refers to the state or condition in which people or communities lack the financial resources and essentials for a minimum standard of living. As such, their basic human needs cannot be met. Poverty-stricken people and families may go without proper housing, clean water, healthy food, and medical attention. Each
What Is the Poverty Gap? The poverty gap is a ratio showing the average shortfall of the total population from the poverty line—the minimum level of income required to secure the basic necessities for survival. In other words, it reflects the intensity of poverty in a nation. Key Takeaways The poverty gap reflects the intensity of poverty in
What Is a Poverty Trap? A poverty trap is a mechanism that makes it very difficult for people to escape poverty. A poverty trap is created when an economic system requires a significant amount of capital to escape poverty. When individuals lack this capital, they may also find it difficult to acquire it, creating a
What Is a Power Broker? A power broker is an individual who is able to influence the decisions of other parties. This is usually done through the power broker’s personal and professional connections rather than through public means, such as explicitly lobbying for a particular decision. In the world of finance, a power broker is
What Is a Power of Attorney (POA)? The term power of attorney (POA) refers to a legal authorization that gives a designated person the power to act for someone else. As such, a POA gives the agent or attorney-in-fact the authority to act on behalf of the principal. The agent may be given broad or
What is Power of Attorney of Property Power of attorney (POA) of property is a legal document transferring the legal right to the attorney or agent to manage and access the principal’s property in the event the principal is unable to do so themselves. How Power of Attorney of Property Works Power of attorney of
What Is a Power of Sale? A power of sale is a clause written into a mortgage note authorizing the mortgagee to sell the property in the event of default in order to repay the mortgage debt. Power of sale is permitted in many states as part of a lender’s rights to seek a foreclosure. Key
What Are PowerShares? PowerShares is the branded name of a family of domestic and international exchange traded funds (ETFs) managed by the investment management company Invesco Ltd. One of the first popular index ETFs, the PowerShares QQQs, which tracks the Nasdaq 100 index, launched in 1999. Founded in 2003, PowerShares ETFs trade like stocks on both
What Is Property, Plant, and Equipment (PP&E)? Property, plant, and equipment (PP&E) are long-term assets vital to business operations. Property, plant, and equipment are tangible assets, meaning they are physical in nature or can be touched; as a result, they are not easily converted into cash. The overall value of a company’s PP&E can range from very low
