Family Law Mediators
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
Family and divorce
Although divorce may end the marital relationship, families endure. Divorce
doesn’t need to end your ability to be good co-parents or even friends.
The old model of scorched-earth litigation is quickly becoming a thing
of the past as more and more people realize the collateral damage that
a high conflict divorce causes for children, relatives, friends, and for
the individuals involved.
Family law
Area of law that deals with separation, divorce, child custody, adoption
and division of marital assets
Family law case
A case filed within the family law court
Family law mediation
A form of conflict resolution as it relates to family law issues
Family
Law Mediation Attorneys
This term may refer to family law
attorneys who act as mediators and who have specialized mediation training,
or family law attorneys who represent premarital agreement clients whose
cases are in mediation with a 3rd party mediator. Sometimes these are
referred to as mediation friendly attorneys, meaning that while the attorney
may handle litigation cases, he or she also understands the value of settlement
and mediation.
Family
law mediation practices
A mediation practice whose sole
focuses are family law issues
Family Pot Trust
A pot trust is often used by parents with younger children. This type
of trust allows the family money be kept together, so that it can be used
on any child as required. The trustee named in the trust decided how much
money shall be spent on each child. Therefore, if one child needs braces
and the other child wants to go to private college, the trustee has discretion
over the property to provide.
Federal Gift Tax
You can give away a total of $1million during your lifetime without paying
gift taxes. The federal government imposes a tax on substantial gifts
made during life. This tax is imposed on the giver of the gift, and not
the recipient.
Federal Personal
Estate Tax Exemption
If your estate is worth more than the
amount of the personal estate tax exemption for the year of your death,
your estate will owe taxes unless other exemptions or deductions apply.
Final beneficiaries
The people or institutions named to receive the remaining principal upon
the death of a life beneficiary.
Financial Marriage
As much as people who get married rarely see marriage as a financial contract,
certainly according to the laws of each state a marriage is a financial
contract. married Couples have a legal duty to support one another, and
may have automatic joint liability for things like medical bills and shelter.
Forensic Accountant
A CPA with specialized training to determine the value of assets and income.
For example, you might use a forensic accountant trained in business valuation
to put a value on your family business before you get married so that
you can make a full disclosure to your fiance before you sign your premarital
agreement.
Funding a trust
Transferring assets into a trust, by changing the title of the assets
to list the owner as the trust, in the name of the trustee or trustees.
Future interest
Right to property which cannot be enforced at the present time, but which
shall be enforceable in the future.
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