Clear, plain-language definitions of divorce, property division, and forensic accounting terms you need to know.
The increase in value of a separate property asset that results from the direct efforts, labor, or investment of either spouse during the marriage.
Divorce ProcessCourt-ordered financial support paid by one spouse to the other after divorce, intended to limit the economic impact of the separation on the lower-earning spouse.
Divorce ProcessA court order that prevents either spouse from selling, transferring, or disposing of marital assets during divorce proceedings, ensuring that property remains available for equitable division.
Forensic AccountingThe process of tracking the origin, movement, and current location of financial assets through bank records, transaction histories, and other documentation to establish ownership in legal disputes.
Ongoing payments made by a non-custodial parent to the custodial parent to cover a child's living expenses after divorce, calculated based on state guidelines and parental income.
Divorce ProcessA structured divorce process where both spouses and their attorneys commit to resolving all issues through negotiation without going to court, often involving financial and child specialists.
Property & AssetsThe mixing of separate property with marital property, which can cause the separate property to lose its protected status in a divorce.
Property & AssetsA marital property system used in nine U.S. states where most assets and debts acquired during marriage are owned equally by both spouses.
The legally recognized date on which a marriage effectively ends for purposes of property classification, determining which assets and debts are marital versus separate.
Divorce ProcessThe formal legal process during divorce proceedings where both parties exchange financial documents, answer written questions, and provide sworn testimony to ensure full disclosure of assets and debts.
Forensic AccountingThe intentional waste, destruction, or misuse of marital assets by one spouse -- often during or just before divorce -- for purposes unrelated to the marriage.
Divorce ProcessA voluntary dispute resolution process where a neutral third party helps divorcing spouses negotiate agreements on property division, custody, and support outside of court.
A sworn legal document that provides a comprehensive snapshot of a person's income, expenses, assets, and debts, required by courts in most divorce proceedings.
Forensic AccountingA specialized branch of accounting that investigates financial records to uncover fraud, trace assets, and present findings suitable for legal proceedings, commonly used in divorce cases.
Assets and debts acquired by either spouse during the marriage that are subject to division upon divorce.
Divorce ProcessA written contract between divorcing spouses that resolves all issues including property division, alimony, child custody, and support, which becomes legally binding once approved by the court.
A financial summary that lists all assets and liabilities to calculate total net worth, used in divorce to establish a baseline for property division negotiations.
Divorce ProcessA type of divorce where neither spouse is required to prove wrongdoing by the other, typically citing 'irreconcilable differences' as the reason for dissolution of the marriage.
The increase in value of a separate property asset caused by external market forces, inflation, or economic conditions rather than the efforts of either spouse.
Divorce ProcessA legal contract created after marriage that defines the division of assets and financial responsibilities if the couple divorces, similar to a prenup but executed during the marriage.
Divorce ProcessA legal contract signed before marriage that outlines how assets, debts, and spousal support will be handled in the event of divorce, separation, or death.
Property & AssetsThe legal process of identifying, classifying, valuing, and distributing marital assets and debts between spouses during a divorce.
The various federal and state tax consequences that arise from divorce, including changes to filing status, treatment of alimony, division of retirement accounts, and transfer of property between spouses.
Property & AssetsThe legal process by which the character of property changes from separate to marital, from marital to separate, or from one spouse's separate property to the other's.