Santa Rosa Divorce & Family Law Lawyer, California, page 4

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LEGAL TERMS

STIRPES

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

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.

DIVORCE AGREEMENT

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... (more...)
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.

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.

MARITAL SETTLEMENT AGREEMENT

See divorce agreement.

CASE

A term that most often refers to a lawsuit -- for example, 'I filed my small claims case.' 'Case' also refers to a written decision by a judge -- or for an appe... (more...)
A term that most often refers to a lawsuit -- for example, 'I filed my small claims case.' 'Case' also refers to a written decision by a judge -- or for an appellate case, a panel of judges. For example, the U.S. Supreme Court's decision legalizing abortion is commonly referred to as the Roe v. Wade case. Finally, the term also describes the evidence a party submits in support of her position -- for example, 'I have made my case' or ''My case-in-chief' has been completed.'

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.

ADOPTED CHILD

Any person, whether an adult or a minor, who is legally adopted as the child of another in a court proceeding. See adoption.

INCOMPATIBILITY

A conflict in personalities that makes married life together impossible. In a number of states, incompatibility is the accepted reason for a no-fault divorce. C... (more...)
A conflict in personalities that makes married life together impossible. In a number of states, incompatibility is the accepted reason for a no-fault divorce. Compare irreconcilable differences; irremediable breakdown.