Peace Talks Glossary

Peace Talks Glossary

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Palimony

An income replacement-- like alimony or spousal support --that may be awarded under a contract theory rather than an alimony law. The difference is that palimony is for people who are not married. Palimony claims are not easy claims to win in court, but that doesn't stop some people from trying.

Parenting plan

The written court orders which outline how often and when the children will be with each parent and how child-focused decisions will be made. Parenting plans typically include decision making protocols, a day-to-day schedule, vacations, holidays and travel, as well as other parenting issues such as how to handle a relocation request.

Pay on death designation

Also called a pay on death account. Bank account which balance will be paid upon the owner’s death to the person specified as the pay on death beneficiary.

Peaceful resolution

Constance Arons’ book, The Good Divorce, was one of the first (and most enduring) books to illustrate how a peaceful divorce might be possible. Allowing yourself to grief the end of your relationship is an important part of healing, and, eventually, you’ll allow the new chapter of your post-divorce life to begin. Handling your divorce in a civil, pro-active and thoughtful way will help the healing process begin, leaving you with a clear path toward happiness in the future. We believe that mediation is a good first step in working through your divorce issues in a sane, sensible way.

Personal Exemption

If your estate is worth more than the amount of the personal estate tax exemption for the year of your death, your estate will owe taxes unless other exemptions or deductions apply.

Personal Guardian

If no parent is available to raise your child, another adult must be legally responsible to do so. This person is called the child's personal guardian.

Personal property

All property except for land or real estate. Personal items, cash, investments, cars, etc.

Postmarital Agreement

A private contract that defines certain issues within a marriage (which has already taken place), typically debt, spousal support and property division, as well as certain provisions in the event of a marital partner's death. Synonym postnuptial agreement.

Postnuptial Agreement

A private contract that defines certain issues within a marriage (which has already taken place), typically debt, spousal support and property division, as well as certain provisions in the event of a marital partner's death. Synonym post-marital agreement.

Pour over will

A will which automatically deposits money or assets into a trust. Property left through a will must go through probate before it can “pour over” into the trust.

Power of appointment

Legal authority to decide who shall receive property held in a trust.

Power of attorney

* A legal instrument authorizing one to act as the attorney or agent of the signer. See also durable power of attorney.

Predetermined heir

Child (or child of a deceased child) who is either not named in or not provided for in a will but who are entitled to a share of an estate. Designed to prevent accidental disinheritance of a child not yet born when a will is made, or for the children of a child who was alive when you made your will but who predeceases you.

Premarital Agreement

A private contract that defines certain issues within a marriage (which hasn't yet taken place), typically spousal support and property division, as well as certain provisions in the event of a marital partner's death. Synonym prenuptial agreement.

Premarital Agreements Mediation

Prenuptial agreements or premarital agreements which are prepared using a mediator and the mediation process. Using prenuptial or premarital mediation to draft an agreement allows the couple to determine the subjects the agreement covers as well as to fully discuss the issues together, rather than individually with individual lawyers. After the agreement is discussed and drafted in mediation, Couples are advised to see an individual attorney (one for each fiancé) to review the agreement before signing. This process saves both money and aggravation because the couple first makes the important decision

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