Right to property which cannot be enforced at the present time, but which shall be enforceable in the future.
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.
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.
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.
The people or institutions named to receive the remaining principal upon the death of a life beneficiary.
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.
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.
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.
A mediation practice whose sole focuses are family law issues
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.
A form of conflict resolution as it relates to family law issues
A case filed within the family law court
Area of law that deals with separation, divorce, child custody, adoption and division of marital assets
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.