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The Association of Divorce Financial Planners (ADFP) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Web site: www.nasbatools.com.



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LAW GUARDIAN - an attorney that is typically assigned by the judge to represent the child or children in an intense custody battle.

LEASE - a written document in which the rights to use an occupancy of land or structures are transferred by the owner to another for a specific period of time in return for a specified rent.

LEASED FEE ESTATE - an ownership interest held by a landlord with the right of use and occupancy conveyed by lease to others: usually consists of the right to receive rent and the right to repossession at the termination of the lease.

LEASEHOLD ESTATE - the right to use and occupy real estate for a stated term and under certain conditions: conveyed by a lease.

LEGAL CUSTODY - the authority of one parent or both parents to make legal decisions regarding health, education and welfare of the child.

LEGAL SEPARATION - a legal lawsuit for support while the spouses are living separate and apart.

LEVERAGE FACTORS - considerations made by each parties pertaining to the issues that are being disputed.

LIEN - an encumbrance put on a property owned by a judgment debtor. It prevents the sale, transfer of title or refinancing of the property until the debt is satisfied.

LIQUIDATION VALUE - the price that an owner is compelled to accept when a property must be sold without reasonable market exposure.

LITIGATION - the process of fighting a legal dispute in the court system.

LONG ARM - the means by which a court can get jurisdiction over someone who lives outside the jurisdiction in which the court is located.

LUMP - SUM ALIMONY - a spousal support that is ordered to be paid in a fixed amount. The completion of the payment may be made in installments. (see spousal support section).

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