A Glossary of Terms (source: www.cfc-fcc.ca/prof-advisors/glossary.cfm)

(Adapted, revised and updated based on material presented in Planned Giving for Canadians, by Frank Minton and Lorna Somers, 2nd Edition, 1997).
Below are definitions of many of the estate planning and fund-raising terms that professional advisors might typically encounter in the course of their professional work.
adjusted cost base (or basis)
the amount paid for property, increased by capital improvements and decreased 
by depreciation.
administrator
the person appointed by the court to settle an estate when a person has died 
without a valid will.
AFP
acronym for the Association of Fundraising Professionals, formerly the National Society of Fundraising Executives.
alternative minimum tax
a federal tax designed to assure that a person cannot avoid paying income tax 
through the use of various tax shelters. The alternative minimum tax applies when the calculated amount is higher than the regular tax otherwise payable.
annual gift
a donation made each year, usually with few restrictions. Increasingly, the term 
regular gift is substituted as it better conveys the idea of periodic giving throughout an annual cycle.
annuity
a contracted right to receive payments of a specific amount at stated intervals in life, or for a term of years, in consideration of a transfer of cash or other assets.
appreciated property
property, such as securities, real estate, and artworks, whose current fair market value (FMV) exceeds the purchase price.
beneficiary
the person or organization that receives a bequest under a will, death benefits from a life insurance policy, or payments from a trust.
bequeath
to leave property to a beneficiary by means of a will.
bequest
a gift of property through a will to a particular beneficiary. Also called a legacy.
CAGP
acronym for the Canadian Association of Gift Planners, the association of gift planners and professional advisors
Canadian-U.S. Income Tax Convention
a protocol approved by the governments of both Canada and the United States that addresses tax issues that confront Americans and Canadians involved in cross-border estate planning. The Tax Convention takes precedence over statutory law. The amended Tax Convention entered into force November 9, 1995. The Tax Convention is also called the Tax Treaty.
capital
with reference to a trust, the principal upon which income is earned. Also called corpus in legal documents.
capital campaign
an intensive effort undertaken by an organization to meet a specified financial goal for specified projects/purposes (such as capital expansion, building endowment, etc.), to be completed within a specified time period.
capital gain or loss
the profit or loss resulting from the sale or other disposition of a capital asset.
carryback
the portion of a donation receipt issued for a testamentary gift, and not used on the decedent’s terminal tax return, that can be claimed (subject to allowable limitations) on the return for the year preceding the year of the decedent’s death.
carryover
the portion of a donation receipt not used in the current year and carried forward for use in succeeding years.
cash surrender value
the cash paid by an insurance company to the owner of a policy when the policy is terminated prior to the death of the insured.
CCAA
acronym for the Canadian Charitable Annuities Association.
certified cultural property
an artwork, artifact, or structure that, if approved by the Canadian Cultural Property Export Review Board, qualifies for special tax treatment when donated to a qualified charity.
charitable gift annuity
a fixed sum of money paid by a charity, at certain intervals, for the life of the annuitant(s), or for a term of years, in exchange for a donation of cash or other property.
charitable gift fund (CGF)
A charitable gift fund is an “advisor-managed” financial product marketed by wealth management firms. Also known as a donor-advised fund, CGFs enable individuals with philanthropic interests to plan their charitable giving, as well as maximize its 
impact. Donors can recommend grants to charities and nonprofits of their choice on their timetable. In some cases, donors can also make recommendations on how the gifted contributions might be invested to increase the charitable giving power of the fund. See also donor-advised fund (DAF).
charitable lead trust
a type of U.S. trust that pays income to one or more charities for the life of named individuals or for a term of years, and then distributes the principal either to the donor or to other individuals selected by the donor.
charitable remainder annuity trust
a type of U.S. charitable remainder trust that pays a fixed amount of income – for life or a term of years – to one or more income beneficiaries each year.
charitable remainder trust
an irrevocable trust that pays income to one or more individual beneficiaries for life or a term of years, and then distributes the remaining assets to one or more charities.
charitable remainder unitrust
a type of U.S. charitable remainder trust that pays a fixed percentage of trust assets, as revalued annually – for life or a term of years – to one or more income beneficiaries each year.
codicil
an addition or amendment to a will.
contingent bequest
a testamentary gift that takes place only if the testator is not survived by certain individuals or if other stated conditions are not met.
corpus
the principal or capital of a trust.
cultivation
to maintain, and possibly increase, the interest of a prospect in a charity’s programmes preparatory to the solicitation of a gift.
death benefit
the amount payable by an insurance company to the beneficiary(ies) at the death of the insured.
decedent
a person who has recently died and whose estate is in process of being settled.
deed
a document used for transferring the ownership of real estate.
deed of gift
a document used for transferring personal property.
deferred gift
any charitable gift arrangement where the charity’s use of the asset is delayed to some future time.
depreciation
with reference to property, the process of being worn out or becoming obsolete. 
Certain types of property qualify for depreciation deductions, also known as capital cost allowances (CCA).
disbursement quota (DQ)
the required amount of receipted donations that charities must spend each year for charitable purposes.
discount rate
the assumed interest rate when computing present or future value. It is used to determine the donation receipt for establishing a charitable remainder trust, or for giving a residual interest in property.
donee
the recipient of a gift.
donor
a person, corporation, foundation, or other organization that makes a gift.
donor-advised fund (DAF)
A Donor-advised Fund, established within a community foundation, enables individuals with philanthropic interests to plan their charitable giving, as well as maximize its impact. Donors can recommend grants to a charity requesting that funds be disbursed to support other charities and worthwhile projects of their choice, based on their own preferences and timetable. Generally, donors cannot make recommendations on how gift contributions should be invested to increase the charitable giving power of the fund, as this task is usually the responsibility of the foundation’s Investment Committee, as delegated by the Board of Directors. See also charitable gift fund (CGF).
endowed fund agreement
a document describing the name, purpose, funding and administration of an endowment, normally negotiated between and signed by the donor and the charity.
endowment
a principal sum, permanently set aside and invested by a charity, with only the 
income used for charitable purposes.
estate
everything that a person owns or has an interest in.
estate tax
in the U.S., the tax imposed on the transfer of property at the death of an individual. It does not apply if the transfer is to a charity.
estate trustee
another name for executor/trix.
executor / executrix
the person or institution (such as a trust company) named in a will to carry out the terms of the will.
fair market value (FMV)
the price at which a fully-informed seller, who is under no compulsion to sell, would be willing to sell an asset to a fully-informed buyer, who is under no compulsion to buy.
future value
the amount that will have been accumulated by a future date if a sum of money is invested at a certain rate of compound interest.
gift acceptance committee
a committee charged with the responsibility of evaluating proposed gifts and deciding whether it is in the best interest of the charity to accept them.
gift plus annuity
another name for a reinsured gift annuity in Canada.
gift tax
in the U.S., the tax imposed on the transfer of property, in excess of a stated value, during the life of the donor. It does not apply if the transfer is to a charity.
gift to the Crown
a donation to the federal or provincial government and formerly to a particular type of foundation that raises money for the support of entities, such universities and hospitals, that derive most of their financial support from government sources.
gift-in-kind (GIK)
a gift of property other than cash (e.g., a gift of securities, real estate, or art).
heritage society
the generic name given to a recognition program for donors of deferred gifts.
insured annuity
a combination of a prescribed annuity and life insurance policy.