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.

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.

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 decisions about what to include in the agreement and what the terms of the agreement will be, and then uses their individual attorneys simply for a review and fine-tuning rather than an adversarial back-and-forth drafting of agreements.

Protection of assets during divorce: Some divorcing spouses are tempted to hide assets during a divorce. This is a dangerous strategy, however, because if you’re found to be lying about assets in your divorce, you can be punished by the court, your divorce can be invalidated, and the court has the power to award your assets to the other spouse. A better asset protection strategy is to consult with a Certified Divorce Financial Planner or accountant to go over your short and long term goals, and to help you make sure that your divorce negotiations and settlement will help your long term financial planning, and not ruin it. Mediation is also an asset protection strategy, because it’s about 75% less expensive than a litigated divorce. Sometimes protecting your assets includes not spending them on lawyers and court proceedings.

Pre-Marital Counseling: Many couples go to couples’ counseling before making a final decision to marry, making sure their values, goals and priorities are in line, and to learn how to communicate better. If you are not sure if you have found “the one”, exploring your options and feelings with a therapist, whether it’s an individual therapist or couples’ counselor, may be a good investment.

Premarital Mediation: A process in which couples that intend to marry discuss the financial agreement in the event of divorce. Sometimes these couples draft and execute a prenuptial agreement or premarital agreement, and sometimes they elect not to put their agreement into writing. A mediator facilitates the discussion, making sure that the couple has a thorough discussion of all of their monetary and relationship issues.

Prenup: An agreement made between a man and a woman before marrying in which they give up future rights to each other's property in the event of divorce or death.

Prenuptial 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: premarital agreement.

Prenuptial Legal Counsel: The best way to make sure your premarital agreement or prenuptial agreement is valid is to make sure that each fiancée has an attorney who reviews the premarital agreement individually and privately. California Family Code Section 1615 doesn’t actually require each fiancé to have his or her own attorney, but it offers a way out if one or both spouses didn’t have an individual lawyer review the agreement before it’s signed.