North Las Vegas Divorce & Family Law Lawyer, Nevada, page 2

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Josef M. Karacsonyi

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LEGAL TERMS

PALIMONY

A non-legal term coined by journalists to describe the division of property or alimony-like support given by one member of an unmarried couple to the other afte... (more...)
A non-legal term coined by journalists to describe the division of property or alimony-like support given by one member of an unmarried couple to the other after they break up.

CLOSE CORPORATION

A corporation owned and operated by a few individuals, often members of the same family, rather than by public shareholders. State laws permit close corporation... (more...)
A corporation owned and operated by a few individuals, often members of the same family, rather than by public shareholders. State laws permit close corporations to function more informally than regular corporations. For example, shareholders can make decisions without holding meetings of the board of directors, and can fill vacancies on the board without a vote of the shareholders.

STIRPES

A term used in wills that refers to descendants of a common ancestor or branch of a family.

CUSTODIAN

A term used by the Uniform Transfers to Minors Act for the person named to manage property left to a child under the terms of that Act. The custodian will manag... (more...)
A term used by the Uniform Transfers to Minors Act for the person named to manage property left to a child under the terms of that Act. The custodian will manage the property if the gift giver dies before the child has reached the age specified by state law -- usually 21. When the child reaches the specified age, he will receive the property and the custodian will have no further role in its management.

GUARDIANSHIP

A legal relationship created by a court between a guardian and his ward--either a minor child or an incapacitated adult. The guardian has a legal right and duty... (more...)
A legal relationship created by a court between a guardian and his ward--either a minor child or an incapacitated adult. The guardian has a legal right and duty to care for the ward. This may involve making personal decisions on his or her behalf, managing property or both. Guardianships of incapacitated adults are more typically called conservatorships .

MARITAL PROPERTY

Most of the property accumulated by spouses during a marriage, called community property in some states. States differ as to exactly what is included in marital... (more...)
Most of the property accumulated by spouses during a marriage, called community property in some states. States differ as to exactly what is included in marital property; some states include all property and earnings dring the marriage, while others exclude gifts and inheritances.

AGE OF MAJORITY

Adulthood in the eyes of the law. After reaching the age of majority, a person is permitted to vote, make a valid will, enter into binding contracts, enlist in ... (more...)
Adulthood in the eyes of the law. After reaching the age of majority, a person is permitted to vote, make a valid will, enter into binding contracts, enlist in the armed forces and purchase alcohol. Also, parents may stop making child support payments when a child reaches the age of majority. In most states the age of majority is 18, but this varies depending on the activity. For example, in some states people are allowed to vote when they reach the age of eighteen, but can't purchase alcohol until they're 21.

MARRIAGE CERTIFICATE

A document that provides proof of a marriage, typically issued to the newlyweds a few weeks after they file for the certificate in a county office. Most states ... (more...)
A document that provides proof of a marriage, typically issued to the newlyweds a few weeks after they file for the certificate in a county office. Most states require both spouses, the person who officiated the marriage and one or two witnesses to sign the marriage certificate; often this is done just after the ceremony.

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.'