Family Mediation Service
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
Debt or liens against property. For example, when property is used as
collateral for payment of a debt, such as a mortgage, the property is
said to be encumbered. The mortgage is an encumbrance.
Marriages may end in separation, Legal Separation, or divorce.
of property less all debt owed (encumbrances).
The division of the marital assets acquired during a marriage, including
marital debts according to what the court feels is fair under the circumstances.
which goes to the state government because no one can lay legal claim
value (market price of your property minus anything you owe on it) of
all the property you own at your death.
Planning how your property will pass to your intended recipients upon
Taxes assessed on the property of a deceased person. Death taxes are called
estate taxes for Federal tax purposes. Also referred to as Inheritance
Person named in your will who will manage your estate, deal with the
probate court and distribute your assets.