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

• Death Taxes: taxes assessed on the property of a deceased person. Death taxes are called estate taxes for Federal tax purposes. Also referred to as Inheritance Taxes.
  
  
• Debtor: person who owes money.
  
  
• Decedent: person who has died.
  
  
• Deed: document which transfers title to property.
  
  
• Descendent: person who is an offspring of a person or family.
  
  
• Devise: real estate given by a will. Also may be referred to as a gift.
  
  
• Direct Beneficiaries: is a person or institution you name in a will, trust, or pay on death account to receive a gift of specific property.
  
  
• Disclaimer: for estate planning purposes, a disclaimer is the right to refuse to accept money or property left to you in someone else’s estate plan, trust or will.
  
  
• Dissolution of marriage: legal term for divorce. When a marriage is dissolved, the parties are single and unmarried after the final decree enters with the court.
  
  
• Divorce: When a marriage is dissolved, the parties are single and unmarried after the final decree enters with the court.
  
  
• Divorce California: California uses Community Property laws to divide property between spouses. http://www.peace-talks.com/prepare.php
  California is a “no fault” state, which means that in order to get divorced you can simply tell the court that you have “irreconcilable differences” and that your marriage is over. You don’t need to give any specifics about why you feel your marriage is over. And, if your spouse feels your marriage is over, but you want to stay married, your spouse has an absolute right to get divorced from you. You can’t legally stop someone from divorcing you (except by reconciling, of course).
  
  
• Divorce certification: once your divorce has been finalized by the court, certified copies of your paperwork is available through the clerk’s office for a reasonable fee.
  
  
• Divorce certified: once your divorce has been finalized by the court, certified copies of your paperwork is available through the clerk’s office for a reasonable fee.
  
  
• Divorce estate: the divorce estate is the total amount of assets which is available for distribution between the spouses by the court.
  
  
• Divorce finance: in response to consumer demand, financial planners have developed certification for Certified Divorce Financial Planners who can help divorcing spouses figure out the best way to divide their assets and income based on their current situation, investment priorities and styles, and long term goals.
  
  
• Divorce financial: The financial divorce is one component of a divorce. Typically, this encompasses the assets (cars, house, etc.) and sometimes it also includes spousal support and child support. Components of a typical divorce include the financial settlement (assets), support orders (spousal support, child support) and parenting plans (custody).
  
  
• Divorce Guidelines CA: California uses community property laws to divide assets in divorces. Community property laws provide, basically, that all assets and debts accrued during the marriage are to be divided 50/50. There are many exceptions to this rule, but this is the basic guideline. All states, including California, also provide Guidelines for Child Support. Using your income, tax rates, and, in many states, the amount of time each parent spends with the children, child support orders are set in accordance with the Guidelines formula.
  
  
• Divorce help: Mediators, your local bar association, the local Legal Aid office, accountants and therapists are often great sources of divorce information and help. Don’t hesitate to reach out. As consumers become more enlightened about the shortcomings of the court system, divorce consultants have become a more prevalent choice in the decision of how to divorce. Divorce consultants include such professionals as mediators, Certified Divorce Financial Planners, Collaborative Family Lawyers and divorce coaches in addition to the traditional family law attorneys and accountants.
  
  
• Divorce law: Each state has different divorce laws, and these laws fall into 2 categories: equitable division and community property. Equitable division laws give the court the power to order whatever the court feels is fair given your individual circumstances, and community property laws require the court to divide the assets and debts accumulated during the marriage 50/50, with some exceptions. In mediation and collaborative law, you’re free to negotiate whatever you and your spouse feel is fair, with the laws in mind, of course. Mediation lets you figure out what will work best for your family, not just the law.
  
  
• Divorce laws: Each state has different divorce laws, and these laws fall into 2 categories: equitable division and community property. Equitable division laws give the court the power to order whatever the court feels is fair given your individual circumstances, and community property laws require the court to divide the assets and debts accumulated during the marriage 50/50, with some exceptions. In mediation and collaborative law, you’re free to negotiate whatever you and your spouse feel is fair, with the laws in mind, of course. Mediation lets you figure out what will work best for your family, not just the law.
  
  
• Divorce lawyer: Also known as a family law attorney, or matrimonial attorney, divorce lawyers help clients with divorce related issues: divorce, legal separation, custody, support, parenting plans, financial settlements, legal drafting, litigation, or a mix of all of these things.
  
  
• Divorce mediation: Divorce Mediation and Custody Mediation are a way to resolve your divorce or custody dispute which lets you keep full control of the outcome. The only people making decisions are those involved in the dispute, unlike arbitration or litigation where a judge or an arbitrator makes the final decision.
  
  
• Divorce retirement: many people who are getting divorced worry about their retirement and retirement savings. For many, these assets are subject to division by the court. If retiring is important to you, especially if you’re close to retirement age, be sure to consult with a financial planner or accountant to make sure that you’ll be on track to retire as planned, or, if you’ll need to replenish retirement assets after a divorce, that you have a plan in place to do so. As you negotiate, or mediate, you may want to trade off other assets to keep your retirement intact (provided there are adequate assets to do so). Mediation and collaborative law give you the opportunity to make these kinds of decisions rather than having the court dictate to you how you’ll divide assets.
  
  
• Divorce rights: each state has laws which govern how property and income is divided in a divorce. Before you file for divorce, you’ll want to be sure you understand how your state’s laws work and that you’re prepared for what to expect. An accountant or Certified Divorce Financial Planner can be a great resource before, during and after a divorce.
  
  
• Divorce separation: many people wonder when and how to separate after they’ve decided to divorce. This is a very personal decision, and it’s governed by your finances (can you afford to live separately?) as well as your emotions (can you live together peacefully even though your divorce is pending?). Legally, there are pros and cons to separating, too. If you have children, you may want to have a parenting plan in place before you separate, for example, so that you won’t have to worry about negotiating when you’ll see your children if you move out of the family home.
  
  
• Divorce statistics: About 41,000 couples file for divorce every year in Los Angeles County. 98% of those couples are able to settle out of court, many using mediation. Over 70% of divorcing couples in Los Angeles County get divorced without using any lawyers at all. Only 10% of the divorce cases have 2 lawyers involved.
  
  
• Divorce tax: there are special advantages in the IRS code for people who are divorced or divorcing. Be sure to speak with your accountant or a knowledgeable attorney about tax deductions for things like spousal support payments, allocation of the dependency exemptions for your children, and who’s allowed to claim as “head of household”.
  
  
• Divorcee: divorced woman
  
  
• Domestic violence*: the inflicting of physical injury by one family or household member on another; also : a repeated or habitual pattern of such behavior.
  
  
• Domicile: place of a person’s primary home.
  
  
• Donor: gift giver. Gift receiver is called a donee.
  
  
• Dower and Curtesy: right of a surviving spouse to receive or enjoy a percentage of the deceased spouse’s property if the spouse dies without a will or estate plan, or if the will or estate plan attempts to disinherit the spouse without a valid premarital or post marital agreement permitting the spouse to be disinherited. In California, this is 1/3 of the entire estate.
  
  
• Durable power of attorney: power of attorney which is effective even if the person who created it 9the principal) becomes incapacitated, allowing the person who holds the power of attorney (the person authorized to act) to make healthcare decisions and handle the money and affairs of the principal. The person who holds the power of attorney is called the attorney-in-fact.