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LEGAL TERMS

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.

GUARDIAN

An adult who has been given the legal right by a court to control and care for a minor or her property. Someone who looks after a child's property is called a '... (more...)
An adult who has been given the legal right by a court to control and care for a minor or her property. Someone who looks after a child's property is called a 'guardian of the estate.' An adult who has legal authority to make personal decisions for the child, including responsibility for his physical, medical and educational needs, is called a 'guardian of the person.' Sometimes just one person will be named to take care of all these tasks. An individual appointed by a court to look after an incapacitated adult may also be known as a guardian, but is more frequently called a conservator.

MARITAL SETTLEMENT AGREEMENT

See divorce agreement.

INTERLOCUTORY DECREE

A court judgment that is not final until the judge decides other matters in the case or until enough time has passed to see if the interim decision is working. ... (more...)
A court judgment that is not final until the judge decides other matters in the case or until enough time has passed to see if the interim decision is working. In the past, interlocutory decrees were most often used in divorces. The terms of the divorce were set out in an interlocutory decree, which would become final only after a waiting period. The purpose of the waiting period was to allow the couple time to reconcile. They rarely did, however, so most states no longer use interlocutory decrees of divorce.

SICK LEAVE

Time off work for illness. Most employers provide for some paid sick leave, although no law requires them to do so. Under the Family and Medical Leave Act, howe... (more...)
Time off work for illness. Most employers provide for some paid sick leave, although no law requires them to do so. Under the Family and Medical Leave Act, however, a worker is guaranteed up to 12 weeks per year of unpaid leave for severe or lasting illnesses.

MISREPRESENTATION

A lie by one spouse before marriage that provides grounds for an annulment. For example, if a spouse failed to mention that he was still married or was incapabl... (more...)
A lie by one spouse before marriage that provides grounds for an annulment. For example, if a spouse failed to mention that he was still married or was incapable of having children, he has misrepresented himself.

FMLA

See Family and Medical Leave Act.

SOLE CUSTODY

An arrangement whereby only one parent has physical and legal custody of a child and the other parent has visitation rights.

DEPENDENTS BENEFITS

A type of Social Security benefit available to spouses and minor or disabled children of retired or disabled workers who qualify for either retirement or disabi... (more...)
A type of Social Security benefit available to spouses and minor or disabled children of retired or disabled workers who qualify for either retirement or disability benefits under the program's rigorous qualification guidelines.

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