The initial document filed in a dissolution/divorce or other family law matter that asks the Court to take jurisdiction over the legal matter and notifies the other party of the action, it also outlines the grounds for divorce and the relief sought, such as property division, child custody and cash flow; in litigation the petition is filed by one party; in a settlement a joint petition may be filed together by both parties.

A legal concept dictating where children live and who is responsible for their day-to-day care and supervision as part of a divorce.

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The entity or individual responsible for managing a retirement plan, ensuring compliance with regulatory requirements, and processing benefit distributions.

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Also known as post-divorce, the phase following finalization of a divorce when the final resolutions are implemented.

Also known as post-decree, the phase following finalization of a divorce when the final resolutions are implemented.

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The periodic payments required to maintain life insurance coverage, which can vary based on factors such as age, health, and coverage amount.

Also known as imputed income, anticipated income when someone isn’t currently earning income or is underemployed, used in the cash flow analysis to bring their income up to a reasonable expected level.

In litigation, the hearings and other meetings completed prior to trial, such as motion hearings, settlement conferences and mediation sessions, aimed at resolving disputes and narrowing issues for trial.

In an investment or savings account, the underlying balance or asset without considering the growth/interest on these investments.

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A shortened form of "pro bono publico," meaning "for the public good," referring to legal services provided voluntarily and without expectation of compensation.

Sometimes shortened to "pro bono," meaning "for the public good," referring to legal services provided voluntarily and without expectation of compensation.

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Also known as unrepresented, a Latin term meaning “for himself” when a client proceeds in a legal matter, like divorce, without an attorney and is self-represented.

A plan funded by employer contributions often based on the company's profits with employee’s having some flexibility or freedom to make investment choices in their plans.

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

Also known as Qualified Domestic Relations Order and pronounced "quadro," a legal order following a divorce that is required to divide ownership of a qualified retirement plan (such as a pension or 401k) to give the divorced spouse their share of the asset or pension plan.

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Also known as QDRO (pronounced "quadro"), a legal order following a divorce that is required to divide ownership of a qualified retirement plan (such as a pension or 401k) to give the divorced spouse their share of the asset or pension plan.

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Also known as tax-qualified retirement plans or sometimes pre-tax retirement savings, specific types of retirement accounts or arrangements that meet requirements established by the Internal Revenue Service (IRS) and allow you to save for retirement without paying taxes on the money going into the savings.

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A legal document used to transfer ownership interest in a property without providing any guarantees about the title's validity or freedom from encumbrances, often used in a divorce because of the familiarty and trust between the parties.

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The ownership or partial ownership of real property with the intention of generating income and/or appreciation over time, without typically living in the property as a primary household.

Pooled investment trusts or companies that own, operate, or finance income-generating real estate properties with investors owning shares of the larger pool of investments.

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Also known as real estate, the land and/or structures that are owned, including a primary residence, rental properties, vacation homes or cabins, investment properties, timeshares, or a plot of land.

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The spouse that receives financial support from the other spouse (the payor).

A type of financial support over a defined period of time aimed at helping the recipient spouse in acquiring employment, education, training, or skills to become self-supporting and independent financially.

The sharing of children’s direct expenses with one parent initially covering an expense and then requesting reimbursement from the other parent for their share of the cost.

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A spouse who is hesitant, unwilling, or opposed to proceeding with the divorce often for reasons related to emotional attachment, financial concerns, religious beliefs or hope for reconciliation.

A provision in spousal support agreements or other orders stipulating that payments will terminate if the recipient spouse remarries or enters into a new domestic partnership.

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An agreement to not award spousal support but to keep a window of time open for one party to request spousal support based upon a change in circumstances during the time period of the reservation.

In litigation, the filing in response to a petition, either admitting or denying its allegations and asserting any counterclaims or defenses.

Grants of company stock given to employees that vest over time or upon meeting certain conditions.

An upfront, lump sum payment that serves as an advance payment for legal services.

A payment or series of payments designed to retain key employees over a specified period.

Savings or other benefits in one person’s name that have some sort of favorable tax implications when used in your later, retirement years.

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Withdrawals from retirement funds that are typically considered income and may be taxed or subject to a penalty depending on the type of asset and timing of the withdrawal.

A parenting agreement and/or clause in a co-parenting plan that requires the parent who is scheduled to be responsible for the children to offer the other parent the opportunity to care for the children before arranging alternate care in certain circumstances.

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The process of weighing the potential risks and benefits of a decision to determine the best course of action.

A non-qualified retirement account where contributions are not tax deductible when made and all withdrawals in retirement, including earnings, are tax-free.

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A bank account intended for storing funds for future needs, emergencies, or specific financial goals, often earning interest on the balance.

The point in time when a individual can meet their own reasonable budget with their own income without needing any additional support from a former spouse.

Also known as non-marital property, assets and/or liabilities that belong solely to one spouse and were acquired before the marriage, through inheritance or gift during the marriage, or explicitly outlined as separate in prenuptial or postnuptial agreements.

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Also known as legal separation, the legal status or arrangement in which spouses live apart from each other or separate in other legal ways while still legally married.

A payment or continued salary payments for a period of time after someone leaves or loses a job.

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Also known as marital property or joint property, assets and/or liabilities earned, acquired, or built up during the marriage regardless of individual ownership or contribution.

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A lump-sum payment offered to a new employee as an incentive to join the company.

Also known as individual decision-making, a parenting arrangement where one parent has the exclusive right and responsibility to make major decisions about their children's welfare, including decisions related to education, healthcare, and religion, typically due to the court's determination that this arrangement best serves the children's interests.

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A legal parenting arrangement where one parent has the exclusive right to make major decisions about the child’s welfare, including education, healthcare, and religious upbringing, without the need to consult the other parent.

A legal parenting arrangement where the children reside primarily with one parent, who is responsible for their daily care and supervision, while the other parent may have visitation rights.

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Also known as alimony 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.

Also known as spousal maintenance or alimony, 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.

Also known as marital standard of living, the degree of comfort you and your spouse lived in during your marriage, including the home you lived in, the vacations you took, restaurants you ate at, and the overall lifestyle that you lived.

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Rights granted to purchase company stock at a predetermined price within a specified timeframe.

Ownership stakes in publicly traded companies, subject to market fluctuations and typically held in shares.

An educational loan incurred by either spouse typically for tuition, fees, books, or other educational expenses although they may be used for personal expenses as well.

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Also called 403(b) plans, 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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A life insurance product that provides coverage for a specified period, typically 10, 20, or 30 years, with a death benefit paid if the insured individual dies during the term.

The process of identifying and segregating separate property contributions to a hybrid asset or liability to determine each party's rightful share.

A non-qualified retirement account where contributions are typically tax deductible when made, earnings grow tax-deferred, and with required minimum distributions after a certain age.

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A mediation style that seeks to empower parties to transform their relationship and communication patterns, with the goal of fostering understanding, empathy and mutual respect, which can lead to long-term positive changes in the parties' relationship dynamics and interactions.

In litigation, if parties are unable to reach agreements on key issues through negotiation or mediation, the process where a judge or judicial officer hears evidence, considers arguments from both sides, and issues a final judgment resolving the disputed issues.

When an individual is not earning income to their full potential, in which case the court may impute income based on earning capacity, education, and work history.

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Custodial accounts established by adults on behalf of minors that allow for the transfer of assets, such as cash, securities, or real estate, to minors, who gain control of the assets upon reaching the age of majority, typically age 18 or 21.

A life insurance product like a whole life policy but combining a death benefit with an investment component, allowing policyholders to build cash value over time and have more flexibility in premiums paid, the death benefit and investment options.

Also known as pro se, when a client proceeds in a legal matter, like divorce, without an attorney and is self-represented.

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The specific date used to determine the value of marital assets and liabilities for division between the parties.

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Also known as discretionary expenses, 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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Money or other financial assets earned that is not received on a set schedule or consistent amount and may be more difficult to anticipate moving forward, such as tips, bonuses or commissions.

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

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The process by which an employee gains full ownership of stock options or other equity compensation over a set period or upon achieving specific milestones.

The timeline over which an employee gains full ownership of benefits, like stock options or restricted stock units, typically requiring them to remain with the company for a set period.

In some jurisdictions, the scheduled parenting time that the non-custodial parent spends with the children, ensuring they maintain a meaningful relationship despite not having physical custody (or limited time).

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A support payment method where funds are withheld directly from the payor’s paycheck through wage garnishment or income withholding orders, ensuring timely and consistent payments, most common when the payor has failed to make payments or has been difficult to work with on support.

A binding spousal support agreement that does not have an opening for modification meaning both parties waive their right to seek a modification in the amount or duration of spousal support.

A legal document that guarantees the grantor has clear title to the property and the legal right to transfer it, providing assurances against any future claims or encumbrances.

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Co-parenting schedule in which children spend one week with one parent and the next week with the other.

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A life insurance product that provides permanent coverage with a guaranteed death benefit payable regardless of when the insured individual dies and potential cash value, as long as premiums are paid.

Also known as participation agreement, a contractual commitment in a collaborative law process to resolve issues collaboratively and refrain from litigation; if either party terminates the collaborative law process, the attorneys are bound to withdraw from representing the clients in litigation.

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A discretionary or performance-based bonus given at the end of the fiscal year, typically reflecting annual achievements.

A legal principle that requires lawyers to represent their clients with dedication, loyalty, and vigor to try for the best possible outcome, while maintaining ethical standards and meeting their legal obligations.