Family Law Mediation
Peace Talks Glossary
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Abstract of Trust
Summary version of a living trust which can be used to prove that a trust
exists without revealing the property included in the trust or the beneficiaries.
Allows trustor or creator of trust to submit appropriate documentation
to financial institutions (for example) without losing confidentiality
of contents of the trust.
Accumulation Trust
Trust in which income is deposited into trust rather than distributed.
Income may be paid to beneficiaries when and as provided in the trust.
Acknowledgement
Statement in front of a notary or other person who administers oaths that
the signature on that document belongs to you (the person who is signing
the document).
Ademption
Failure
of a bequest of property because the property in question is no longer
owned by the person making the will or estate plan.
Administration
of an estate
Court-supervised distribution of an estate
after a person has died. The Executor administers the estate when there’s
a will. Without a will, the executor is called an “administrator”.
Adopted child
A person, adult or child, who is legally adopted and becomes the legal
child of another person. A probate court proceeding is required. Adopted
children have the same rights as biological children in estates and inheritances.
Affidavit
Written
statement made under oath, often under penalty of perjury.
Alternate Beneficiaries
Is a person or organization you name to receive a gift you left to direct
beneficiary, if that direct benficiary dies before you do.
Alternative
dispute resolution divorce
Today, many options are available
for how you handle your divorce. Mediation, collaborative divorce, and
use of private judges or arbitrators are a few of these options. Many
cases which are mediated result in an uncontested divorce, and the spouses
aren’t even required to go to court.
Annual Exemption
Federal law allows you to give property worth $11,000 or less per person
(or noncharitable institution) per year. A couple can give $22,000 a year
tax free to one person.Click Here for Current Gift Tax Exemption.
Annuity
Investment
which pays a fixed sum of money to a specific person at specific intervals.
Antenuptial Agreement
An agreement made between a man and a woman before marrying in which they
give up future rights to each other's property in the event of divorce
or death.
Attorney advisor
Generally referred to simply as an “attorney”. Nowadays, most attorneys
specialize in just 1 or 2 areas of the law. If you’re looking for a family
law attorney, be sure that you ask what percentage of their practice is
family law, and [generally] don’t choose anyone whose practice is less
than 50% family law.
Attorney
One
who is legally appointed to transact business on another's behalf. Nowadays,
most attorneys specialize in just 1 or 2 areas of the law. If you’re looking
for a family law attorney, be sure that you ask what percentage of their
practice is family law, and [generally] don’t choose anyone whose practice
is less than 50% family law.
Attorneys divorce
Also called Family Law Attorneys or Matrimonial Attorneys, these are attorneys
who focus their practices in family law.
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