Gonvick Divorce & Family Law Lawyer, Minnesota

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LEGAL TERMS

QMSCO

See Qualified Medical Child Support Order.

FITNESS

The ability of a prospective adoptive parent to provide for the best interests of a child. A court may consider many aspects of the prospective parents' lives i... (more...)
The ability of a prospective adoptive parent to provide for the best interests of a child. A court may consider many aspects of the prospective parents' lives in evaluating their fitness to adopt a child, including financial stability, marital stability, career obligations, other children, physical and mental health and criminal history.

GIFT TAXES

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... (more...)
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.

LEGAL CUSTODY

The right and obligation to make decisions about a child's upbringing, including schooling and medical care. Many states typically have both parents share legal... (more...)
The right and obligation to make decisions about a child's upbringing, including schooling and medical care. Many states typically have both parents share legal custody of a child. Compare physical custody.

MARRIAGE LICENSE

A document that authorizes a couple to get married, usually available from the county clerk's office in the state where the marriage will take place. Couples pa... (more...)
A document that authorizes a couple to get married, usually available from the county clerk's office in the state where the marriage will take place. Couples pay a small fee for a marriage license, and must often wait a few days before it is issued. In addition, a few states require a short waiting period--usually not more than a day--between the time the license is issued and the time the marriage may take place. And some states still require blood tests for couples before they will issue a marriage license, though most no longer do.

POT TRUST

A trust for children in which the trustee decides how to spend money on each child, taking money out of the trust to meet each child's specific needs. One impor... (more...)
A trust for children in which the trustee decides how to spend money on each child, taking money out of the trust to meet each child's specific needs. One important advantage of a pot trust over separate trusts is that it allows the trustee to provide for one child's unforeseen need, such as a medical emergency. But a pot trust can also make the trustee's life difficult by requiring choices about disbursing funds to the various children. A pot trust ends when the youngest child reaches a certain age, usually 18 or 21.

ISSUE

A term generally meaning all your children and their children down through the generations, including grandchildren, great-grandchildren, and so on. Also called... (more...)
A term generally meaning all your children and their children down through the generations, including grandchildren, great-grandchildren, and so on. Also called 'lineal descendants.'

MARITAL TERMINATION AGREEMENT

See divorce agreement.

SEPARATE PROPERTY

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... (more...)
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.