Divorce Dollars. Akeela Davis
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Название: Divorce Dollars

Автор: Akeela Davis

Издательство: Ingram

Жанр: Личные финансы

Серия: Reference Series

isbn: 9781770408203

isbn:

СКАЧАТЬ sources.

      Case law: A term used to reflect how the courts interpret laws. Case law (or common law, as it is sometimes called) is law based on previous decisions by judges.

      Child of the marriage: Any dependent child (due to age, disability, or other cause) to whom the married couple acted as parents, including children who are not biologically related to the spouses, such as stepchildren and adopted children.

      Community property/marital property/family assets: Property (assets and debts) acquired since the date of the marriage, regardless of the name in which the property is registered. (As property division is governed by state or provincial law, the terms used in the acts vary, but the meaning is usually the same.) The only potential exceptions are inheritances, some insurance settlements, and direct gifts to one party. The word “potential” is important, as different rules apply to different jurisdictions.

      Consent order: An agreement between the parties involved in the separation or divorce that has been reviewed by a judge to ensure that it is reasonable. If children are involved, the judge reviews the agreement to ensure that it is in the best interest of the child. Consent orders may be used to change a previous court order.

      Contested divorce: A divorce in which there are areas of disagreement; for example, property division, support, or custody.

      Court order: The decision or ruling handed down by a judge. For example, when parents cannot agree on child custody or child support, either one may ask the judge to decide. The decision becomes a court order.

      Court registry: Places where all court records of open cases are kept (usually the courthouse). Your divorce application should be filed at the registry closest to your place of residence. There is also a central divorce registry kept by the federal government. If you are not sure if your spouse has filed for divorce, or if you suspect your spouse may have filed for divorce in another state or province, you can check with the central registry.

      Divorce: The process laid out by federal law under which a marriage is legally terminated.

      Divorce order/decree: The final outcome of divorce proceedings. The order or decree is a court order stating that the marriage is dissolved.

      Imputing income: Done when the court feels that the amount of income a spouse claims for the purpose of determining support payments is too low to be appropriate. In such a case, the court could impute income (i.e., assign an amount) to the spouse whose income is needed to calculate support. For example, the court may attribute income to a spouse who fails to provide income information requested by the courts, or a spouse who is suddenly unemployed or underemployed for no good reason.

      Interim or temporary agreement: An agreement between the two parties on specific issues — such as child support payments or sharing of expenses during separation — which will be effective while the parties work out the rest of the details of the divorce. A lawyer is not required to create an interim or temporary agreement, but it is a good idea to consult with one to ensure that legal rights are not being signed away.

      Minor children: Children who have not yet reached the age of majority. If there are minor children involved in a separation, the child’s best interest must be the motivating factor in deciding physical custody, access, and guardianship. Parents cannot sign away the rights of a child. Doing so will invalidate any agreement and allow the courts to set up new arrangements.

      No-fault divorce: A divorce in which the grounds for divorce are solely that the parties have been living separate and apart for one year.

      Pre-divorce syndrome (PDS): A condition suffered by those going through divorce. Symptoms may include feelings of rage, fear, loss, helplessness, pain, misery, hate, anguish, hostility, revenge, loss of self-esteem, and blaming (self or others). Some seek to deal with their feelings using alcohol, drugs, or other destructive behavior. PDS may linger on long after the divorce is finalized.

      Separation: The name given to the event that may lead to a divorce. Separation occurs when a married couple has decided that their marriage is no longer working. They have ceased marital relations and are seeking to determine the next step in their relationship. The couple is still legally married during this stage.

      Separation agreement: A legally binding contract that details the terms and conditions of the separation as agreed by both parties.

      Settlement: The term used to indicate resolution of the financial and other issues upon the dissolution of the marriage.

      Uncontested: A divorce in which both parties agree on all the issues involved in the divorce.

      There are two other terms that deserve further discussion. These are “custody” and “support.”

      Custody

      The term custody can be confusing as it can refer to physical custody or legal custody. One must be clear about exactly what is meant by custody.

      Physical custody: The disposition (physical allocation) of the children of the marriage.

      Sole physical custody: A term used to describe an arrangement in which one parent has the children residing primarily with him or her. That parent will normally receive child support.

      Joint physical custody or shared custody: A term used to describe an arrangement in which both parents have near-equal custody of the children (that is, the children reside approximately half the time with one parent and the other half of the time with the other parent). Both parties are equally responsible for the costs involved in the care and nurturing of the children.

      Split custody: Indicates that the children of the marriage are split between the parents. One parent may have sole physical custody of one or more children, while the other parent has sole physical custody of the rest. Child support payments, in these instances, may be very complicated. It is highly advised that you get legal counsel.

      Legal custody or guardianship: Terms used to indicate the person who has the right to give legal permission regarding a child’s health, education, welfare, and mobility.

      Joint guardianship: An arrangement in which both parents are guardians. In such a case, should one parent die, the child will automatically live with the other parent. Both parents must agree on things affecting the child’s health, education, and welfare when both are guardians.

      Sole guardianship: An arrangement in which only one parent is legally recognized as the guardian of the child. That parent can designate who, upon his or her death, becomes the guardian of the minor child. The parent who has sole guardianship can also make decisions on where to live and what is best for the child without having to obtain the other parent’s permission.

      Support

      There are two distinct types of support: child support and spousal support (also called alimony).

      Child support

      Even after divorce, both parents have a legal duty to support their children financially. Child support is money paid to the custodial parent for the care and benefit of the children. Every child is entitled to financial support, regardless of whether or not the parents were married.

      Both the United СКАЧАТЬ