A

Advanced Health Care Directive
A document authorizing another to make decisions and take action regarding your medical care, when you are unable to decide or act yourself. An Advanced Health Care Directive, Durable Power of Attorney and Will are the three Estate Planning tools a person with assets may wish to consider.
Learn More: Estate Planning

Amount in Controversy
The amount of money that is sought to be recovered in a lawsuit, which is usually disputed by another party. 
Learn More: Business Litigation 

Attorney Fees
The money paid to a lawyer for the performance of legal services. 
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B

Business Entities
A company or organization used in commerce that is recognized by law as having separate legal rights and obligations than its owners.  Examples include partnerships, corporations, and limited liability companies. 
Learn More: Business Litigation

C

Capacity Screen
An examination of a person’s mental ability to engage in an act of legal significance. 
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Closing
The final step taken in concluding a transaction, where, usually, the parties meet and sign binding documents, such as a Deed, as well as exchange money and property.
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D

Deed
A document of legal significance that transfers ownership in real property, which is usually signed at the Closing. 
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Directors
Persons elected or appointed to sit on a board, and manage the affairs of a business entity.
Learn More: Business Litigation

Durable Power of Attorney
A document authorizing another to make decisions and take action regarding your finances, when you are unable to decide or act yourself. The Durable Power of Attorney, Advanced Health Care Directive, and Will are the three Estate Planning tools a person with assets may wish to consider.
Learn More: Estate Planning

E

Equitable Remedies
A type of relief sought in litigation that is not money.  One example of this type of relief is an injunction.
Learn More: Business Litigation

F

Fiduciary Duty
A legal obligation owed to a beneficiary to act in their best interest. 
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For Sale By Owner (FSBO)
The marketing and selling of real property without real estate agents.
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G

Guardianship
Authority from the Court of Chancery to make decisions and take action on behalf of someone unable to decide or act themselves. 
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H

Hearing
An appearance before a legal authority, such as a Judge, where a matter is presented.  This consists of something less than a Trial. 
Learn More: Business Litigation

Heir
Someone who is legally entitled to receive an inheritance.
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I

Injunctive Relief
A form of equitable remedy awarded by a Court, that usually directs a party to engage or refrain from engaging in particular conduct.  
Learn More: Business Litigation

Intestacy
The default rules that apply to the assets of a person who dies without a Will.
Learn More: Estate Planning

J

K

L

M

Mortgage Refinance
A transaction where a new loan, usually with more favorable terms, replaces a loan that exists on real property. 
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N

O

Officers
A person elected or appointed by a board of directors to manage the daily operations of a business entity.
Learn More: Business Litigation

P

Personal Representative
Someone who manages the legal affairs of another because of incapacity or death. A Personal Representative of a decedent owes Fiduciary Duties to the beneficiaries of the decedent’s estate, and is responsible for completing the Probate process in an honest and faithful manner.
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Probate
The process by which a deceased person’s legal affairs are sorted by a Personal Representative. There is a cost savings (reduction in costs) for a Personal Representative to have an Attorney assist in the Probate process.
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Q

R

S

Shareholders
The owners of stock in a corporation. 
Learn More: Business Litigation

T

Title
Legal rights relating to ownership of real property. 
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Title Insurance
Real-estate insurance that protects the insured party against loss arising from a defect in title to real property.
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Transfer Tax
A charge imposed by the Government on the transfer of property from one owner to another.
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Trial
An appearance before a legal authority, such as a Judge, where a matter is presented in its entirety.  This consists of something greater than a Hearing, and includes witness testimony.
Learn More: Business Litigation

Trust
An estate planning device used for one or a variety of objectives, such as ensuring assets go to specific beneficiaries, and, avoiding Probate costs.   
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U

V

W

Will
A legal document that contains your directions where you would like your property to go, and, how you would like to care for others after your death. A Will, Advanced Health Care Directive and Durable Power of Attorney are the three Estate Planning tools a person with assets may wish to consider.
Learn More: Estate Planning

X

Y

Z