Search Results for: MARITAL

bypass trust

A trust into which just enough of a decedent’s estate passes, so that the estate can take advantage of the unified credit against federal estate taxes. 26 USCA § 2010. — Also termed credit-shelter trust; A–B trust; marital life-estate trust. See unified estate-and-gift tax credit under TAX CREDIT.

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family home

family home. A house that was purchased during marriage and that the family has resided in, esp. before a divorce. • In some jurisdictions, the court may award the family home to the custodial parent until (1) the youngest child reaches the age of 18 or is otherwise emancipated, (2) the custodial parent moves, or

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credit report

credit report. 1. A credit bureau’s report on a person’s financial status, usu. including the approximate amounts and locations of a person’s bank accounts, charge accounts, loans, and other debts, bill-paying habits, defaults, bankruptcies, foreclosures, marital status, occupation, income, and lawsuits. See CREDIT BUREAU. 2. The report of a credit-reporting bureau, usu. including highly personal

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filiation order

Family law. A court’s determination of paternity, usu. including a direction to pay child support. • Governments usu. seek filiation orders so that some or all of the public funds spent on the child’s welfare can be recovered from a nonmarital child’s father. Until the early 20th century, municipalities, not the state, had the legal

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community property

community property. Assets owned in common by husband and wife as a result of its having been acquired during the marriage by means other than an inheritance or a gift to one spouse, each spouse generally holding a one-half interest in the property. • Only nine states have community-property systems: Arizona, California, Idaho, Louisiana, Nevada,

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obstinate desertion

Desertion by a spouse who persistently refuses to return to the marital home, so that the other spouse has grounds for divorce. • Before the advent of no-fault divorce, this term was commonly used in divorce statutes. The term was often part of the longer phrase willful, continued, and obstinate desertion. [Cases: Divorce 37(15). C.J.S.

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