Co-parenting schedule in which children spend two days with one parent, two days with the other, and three days with the first parent and then the schedule reverses the following week.

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Also known as 2-2-5-5 Schedule, co-parenting schedule in which children spend two days every week with one parent, two days every week with the other, and the three weekend days alternate each week.

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Also known as 2-2-5 Schedule, co-parenting schedule in which children spend two days every week with one parent, two days every week with the other, and the three weekend days alternate each week.

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Co-parenting schedule in which children spend three days with one parent, four days with the other, four days with the first parent, and then three days with the second, rotating over a two-week period and often transitioning over a weekend.

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Employer-sponsored retirement plans that allow employees to contribute a pre-tax portion of their salary to a personal retirement; some may have employer matching the contributions up to a certain amount to increase employee retirement savings.

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Also called tax sheltered annuities or TSAs, similar to 401(k) plans but are typically offered to employees of tax-exempt organizations, like public school teachers, nurses, non-profit organizations, and certain ministers.

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Similar to 403(b) plans but government employees.

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Tax-advantaged savings accounts specifically designed to help families save for future education expenses where contributions to these plans grow tax-deferred, and withdrawals used for qualified education expenses are typically tax-free.

An interest in a business whereby the owner is actively involved in the day-to-day management of the company.

Also known as spousal maintenance or spousal support, financial support paid by one spouse to the other, typically on a regular basis, post-divorce to fill the gap between the recipient’s income and need.

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An individual, usually a spouse or former spouse, who is granted the right to receive a portion of the benefits from a retirement plan under a Qualified Domestic Relations Order (QDRO).

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A range of processes and techniques designed to resolve legal disputes through non-adversarial means, outside of the formal litigation system.

A legal process that declares a marriage null and void, as if it never existed, on the grounds that it was invalid from the beginning.

In litigation, the process for a party to request review of the trial court's decision to a higher court if they believe legal errors were made or if they disagree with the outcome.

An alternative dispute resolution method where a neutral third party, the arbitrator, listens to both sides and makes a binding decision to resolve the dispute; a process that is typically more formal than mediation but less so than a court trial.

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Also known as fair market value or comprehensive value, the amount a third party would pay for the property or asset in its current condition.

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Valuable resources owned by an individual or couple, including things like real estate properties, vehicles, bank accounts, retirement accounts, stocks, bonds, jewelry, artwork, and business interests.

Also known as property division, is one of the two main financial categories of decisions addressed in divorce involving the division of assets and liabilities between spouses.

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Also known as book value method, a business valuation method that calculates the value of a business by subtracting its liabilities from its assets, often as recorded on a balance sheet of the company.

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Also known as lawyer, a legal professional who is trained and licensed to provide legal advice and representation to one individual (or one party) in a divorce, separation or other family law matter.

Also known as vehicle loan, a debt or other financing arrangement for cars, motorcycles, boats, or other vehicles used by either or both spouses.

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A financial snapshot that outlines the assets, liabilities, and net worth of an individual or couple to be used in a divorce to assist in the allocation of assets and liabilities between spouses.

A financial asset that provides liquidity and ease of access to funds.

Instructions on who will receive benefits from accounts like life insurance policies and retirement plans in the event of your death.

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The guiding standard in family law that prioritizes the well-being and welfare of the child above all else and aims to ensure that decisions are made in a manner that promotes the child's overall health, happiness, and development, taking into account their unique circumstances and individual needs.

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Serving on the board of directors of a company or organization with fiduciary duties to act in the best interests of the company and its shareholders.

Debt securities issued by governments or corporations, providing fixed interest payments.

Additional compensation awarded to an employee beyond their regular salary, often based on performance or company results.

Also known as asset-based valuation approach, a business valuation method that calculates the value of a business by subtracting its liabilities from its assets, often as recorded on a balance sheet of the company.

A business established and operated by an individual for their own benefit and livelihood, including sole proprietorships or single-member LLCs, where the company may have little or no value but provides tax benefits for a self-employed individual.

Various ownership stakes in a business/company, from passive investments through entrepreneurial and/or active business ownership.

A business interest where an individual invests cash or other valuable assets in a business venture with the expectation of receiving returns.

An individual or couple's ownership stake in a company or other business entity.

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Also known as lump sum, when the payor spouse makes a single, upfront payment to the recipient spouse in lieu of ongoing periodic payments of spousal support in final settlement of future spousal support obligations.

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Also known as Certificates of Deposit, a timed deposit usually held in a bank or other financial institution with fixed terms and interest rates, typically offering higher yields than a regular savings account in exchange for locking in funds for a specified period.

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Also known as Comparative Market Analysis, a comprehensive assessment conducted by real estate professionals to determine the fair market value of a property to prepare for sale.

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Also known as cost of living adjustment, a periodic increase in financial support, such as alimony or child support, to account for changes in the cost of living, typically based on inflation or other economic factors.

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When a company requests additional investment funds from some or all of the current investors, may be voluntary or mandatory depending on the specific ownership terms.

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An income-based business valuation method that calculates the value of a business by dividing its expected earnings by a capitalization rate, which reflects the risk associated with the business and the expected return on investment.

A financial asset that provides liquidity and ease of access to funds because they can be quickly converted into cash without significant risk of loss in value, making them highly liquid and suitable for meeting short-term financial needs.

The amount of cash being transferred into and out of a household during a specific period used to evaluate financial stability and the sustainability of a household moving forward post-divorce and determine if support is needed.

The accumulated savings component of permanent life insurance policies (whole and universal), which may be accessible through loans or withdrawals.

An official document issued by the court that formally ends a marriage, confirming the legal dissolution of the marriage and often including basic details like the date of the divorce and name change.

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Also known as CDs, a timed deposit usually held in a bank or other financial institution with fixed terms and interest rates, typically offering higher yields than a regular savings account in exchange for locking in funds for a specified period.

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An official document that verifies the finalization of a legal matter with an endorsement by the court, often a raised seal.

A bank account that is typically used for everyday transactions, such as paying bills, making purchases, and withdrawing cash.

In collaborative law and mediation, the process of a professional meeting with the children if the parties would like their children to be heard in the process.

Also known as family specialist, a mental health professional or trained mediator who specialize in working with parties in a collaborative law process on parenting plans, including child custody decisions, parenting schedules and other parenting matters.

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Financial assistance provided by one parent to the other parent for the care and upbringing of the children post-divorce.

Accounts that allow for the purchase and holding of stocks, bonds, mutual funds, and other securities with the potential for growth and capital appreciation over the long term, providing a valuable tool for building wealth for children's future financial goals.

Accounts designed to hold cash deposits and earn interest over time that provide a safe and accessible way to save money for children's future expenses, such as education, extra-curricular activities, or major purchases.

A  vesting schedule granting an employee full ownership of a specific benefit all at once after a specified period, rather than gradually or in parts over time.

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Also known as parenting schedule or parenting time Agreement, a detailed timetable that outlines the time each parent spends with their children post-divorce.

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Living together in a romantic or domestic relationship without being legally married; may affect spousal support obligations if it substantially changes the financial circumstances of the recipient spouse.

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An alternative dispute resolution (ADR) process where parties negotiate a mutually-acceptable settlement without court intervention, utilizing attorneys and other professionals as needed to best support the process.

The initial meeting in a collaborative law process with the attorneys and clients to outline goals/interests, plan the process, determine what other professionals, if any, may be needed and sign the participation agreement (or withdrawal agreement).

A legal framework of property division employed in certain states whereby assets and debts acquired during the marriage are considered jointly owned by both spouses, and upon divorce, these assets and debts are typically divided equally between the parties.

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Also known as comps, in a comparative market analysis, similar properties that have recently sold or are currently on the market used to help in the analysis and determination of a potential value of the property.

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Also known as CMA, a comprehensive assessment conducted by real estate professionals to determine the fair market value of a property to prepare for sale.

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Also known as fair market value or as is market value, the amount a third party would pay for the property or asset in its current condition.

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Also known as comparables, in a comparative market analysis, similar properties that have recently sold or are currently on the market used to help in the analysis and determination of a potential value of the property.

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A situation where an attorney's personal or professional interests may interfere with their ability to represent their client effectively and impartially.  

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Amounts owed for personal spending such as credit card balances, personal loans, and lines of credit used for everyday expenses, purchases, or emergencies.

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The original investment in an asset or personal investment which is used to determine the gains or losses on the investment for tax purposes.

Also known as COLA, a periodic increase in financial support, such as alimony or child support, to account for changes in the cost of living, typically based on inflation or other economic factors.

A detailed record of an individual’s credit history, including debts, payment behavior, and credit inquiries, used to assess financial responsibility.

A numerical rating that reflects an individual’s creditworthiness, based on their credit history, debt levels, payment behavior, and other financial factors, used by lenders to assess the risk of extending credit.

A financial account set up and managed by an adult on behalf of a minor, allowing assets such as cash, stocks, or other investments to be held for the minor’s benefit until they reach adulthood.

In division of retirement accounts and other assets, the date in which the asset is actually divided between the two spouses.

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The face value of a life insurance policy, representing the amount payable to beneficiaries upon the insured individual's death.

Also known as liability, money owed or financial obligations owed by an individual or couple, including things like mortgages, loans, credit card balances, tax liabilities, and outstanding bills.

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Also known as a judgment or judgment & decree, the final, binding order issued by a Court deeming the marriage terminated and outlining all terms of the dissolution.

A type of retirement plan, like pension plans, with rules about the benefit paid to the employee in retirement often a fixed monthly or annual payment in retirement; the defined payment, once granted by the employer, is typically guaranteed.

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A type of retirement plan, like 401(k)s, with rules about the contributions made now to be used later in retirement; the future benefit is determined by the contributions made and the investment returns.

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Expenditures for children that can be separated out and are clearly only for the children, for example clothes, extra-curricular activities and school expenses.

A support payment method where the paying party makes support payments directly to the receiving party through cash or a check.

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A specialized form of counseling designed to help couples who are considering divorce gain clarity and insight into their relationship and make a decision to divorce or stay in the marriage.

An income-based business valuation method that estimates the present value of a business's future cash flows, taking into account factors such as revenue projections, operating expenses, capital expenditures, and the time value of money.

In litigation, the process through which parties exchange information and evidence relevant to the divorce, including financial documents, property valuations and other relevant materials. Discovery methods may include requests for documents, interrogatories, depositions and subpoenas.

Also known as variable costs, living expenses that are more variable and potentially more controllable than fixed expenses; they may be irregular and hard to plan for because these expenses are not always consistent and can be hard to budget.

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The wasteful or improper spending of marital/shared/joint assets by one spouse, sometimes done to reduce the amount available for division during divorce or inadvertently done without consideration of the shared nature of the assets spent.

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Also known as divorce, is the legal process of terminating the marriage contract, thereby ending the marital relationship between spouses.

Also known as dissolution, is the legal process of terminating the marriage contract, thereby ending the marital relationship between spouses.

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A mental health professional used in a collaborative law process to support one or both of the parties through the process if additional guidance is needed.

An individual's state of preparedness, both emotionally and practically, for the process of divorce.

Also known as Kitchen Table divorce, a legal process where clients take on the responsibility of navigating the dissolution of a marriage without the assistance of legal professionals.

A support payment method where funds electronically move through bank transfers, online payment platforms, or electronic funds transfer (EFT) systems, providing convenience and efficiency for both parties.

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A program allowing employees to purchase company stock at a discounted price, often through payroll deductions.

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Legal claims, debts or liabilities, such as mortgages or liens, attached to a property that may affect its transfer or value.

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Legal actions or procedures used to ensure compliance with spousal support orders, such as wage garnishment, contempt of court proceedings, or other enforcement measures.

A legal framework of property division employed in certain states whereby assets and debts acquired during the marriage are considered marital property, and upon divorce, these assets and debts are divided in a fair and reasonable manner based on the specific circumstances of the case.

The value of property, such as real estate, less all debt pledged against the property, like a mortgage or other loan.

Shares or rights to shares granted to employees as part of their compensation, often including stock options or restricted stock units.

A mediation style where the mediator provides expert opinions or evaluations on legal issues, likely outcomes in court, or the reasonableness of proposed settlement terms to help clients gain a realistic understanding of their legal rights and obligations, assess the potential risks and benefits of various settlement options and make informed decisions about their case.

Co-parenting schedule in which children live primarily with one parent and spend every other weekend with the other parent; can have other variations.

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An income-based business valuation method that estimates the value of a business by separating its tangible assets' return from its intangible assets' return most suitable for valuing service-based businesses.

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Similar to mutual funds but traded on stock exchanges, offering flexibility and liquidity.

A mediation style that focuses on empowering parties to communicate effectively, identify issues and generate solutions collaboratively with the assistance of a neutral mediator who facilitates discussions, encourages active listening and helps parties explore interests and concerns underlying their positions.

A comprehensive evaluation performed by a certified appraiser to determine the fair market value of assets, such as real estate, for the purpose of distribution between spouses.

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Also known as as is market value or comprehensive value, the amount a third party would pay for the property or asset in its current condition.