Child Support – Money paid by a parent to help support a child or children.
Spousal Support-the money paid to the divorced spouse or to the spouse with whom divorces proceedings are initiated, as compensation ordered by the court, for their support. In no-fault divorce it is also called as alimony.
Child Custody– used in the court of law in cases where the court has to decide on which parents, in case of divorce cases, and who be the guardian in any other case, of a child who is not yet 18 years of age regarding the social upbringing, education and health matters. The court has to make a decision on such cases very carefully as its a question of child’s future and present upbringing. Incase its found that both the parents are unfit of not of sound mind, the custody of the child goes relatives and orphanages.
Arrears – Money owed because a parent or spouse did not make a court ordered child or spousal support payment on time.
Prenuptial Agreement – a written contract between two people who are about to marry, setting out the terms of possession of assets, treatment of future earnings, control of the property of each, and potential division if the marriage is later dissolved. These agreements are fairly common if either or both parties have substantial assets, children from a prior marriage, potential inheritances, high incomes, or have been “taken” by a previous spouse.
Postnuptial Agreement – a voluntary marriage contract between spouses that is created after their wedding. It is important that each party has their own legal counsel before signing a postnuptial agreement.
Qualified Domestic Relations Order – Any decree, judgment, or order that recognizes the right of one person (the alternate payee) to participate either totally or partially in the pension of another (the participant). The alternate payee must be a dependent child, spouse, or former spouse of the participant. This is an exception to the ERISA rule, proscribing the assignment of plan benefits. Abbreviated QDRO.
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