Caprock Child Custody Lawyer, New Mexico

Federal taxes assessed on any gift, or combination of gifts, from one person to another that exceeds $12,000 in one year. Several kinds of gifts are exempt form this tax: gifts to tax-exempt charities, gifts to your spouse (limited to $120,000 annually if the recipient isn't a U.S. citizen) and gifts made for tuition or medical bills. In addition to the annual gift tax exclusion, there is a $1 million cumulative tax exemption for gifts. In other words, you can give away a total of $1 million during your lifetime -- over and above the gifts you give using the annual exclusion -- without paying gift taxes.

A legal principle, followed by most states, under which assets and earnings acquired during marriage are divided equitably (fairly) at divorce. In theory, equitable means equal, but in practice it often means that the higher wage earner gets two-thirds to the lower wage earner's one-third. If a spouse obtains a fault divorce, the 'guilty' spouse may receive less than his equitable share upon divorce.

In community property states, property owned and controlled entirely by one spouse in a marriage. At divorce, separate property is not divided under the state's property division laws, but is kept by the spouse who owns it. Separate property includes all property that a spouse obtained before marriage, through inheritance or as a gift. It also includes any property that is traceable to separate property -- for example, cash from the sale of a vintage car owned by one spouse before marriage-and any property that the spouses agree is separate property. Compare community property and equitable distribution.

An agreement made by a divorcing couple regarding the division of property, custody and visitation of the children, alimony or child support. The agreement must be put in writing, signed by the parties and accepted by the court. It becomes part of the divorce decree and does away with the necessity of having a trial on the issues covered by the agreement. A divorce agreement may also be called a marital settlement agreement, marital termination agreement or settlement agreement.

Differences between spouses that are considered sufficiently severe to make married life together more or less impossible. In a number of states, irreconcilable differences is the accepted ground for a no-fault divorce. As a practical matter, courts seldom, if ever, inquire into what the differences actually are, and routinely grant a divorce as long as the party seeking the divorce says the couple has irreconcilable differences. Compare incompatibility; irremediable breakdown.

Latin for 'in chambers.' A legal proceeding is 'in camera' when a hearing is held before the judge in her private chambers or when the public is excluded from the courtroom. Proceedings are often held in camera to protect victims and witnesses from public exposure, especially if the victim or witness is a child. There is still, however, a record made of the proceeding, typically by a court stenographer. The judge may decide to seal this record if the material is extremely sensitive or likely to prejudice one side or the other.