Child support is a payment specifically designated for the purpose of child support under a divorce or separation agreement. Such payments are neither deductible by the payer nor taxable to the payee.
Equitable distribution refers to the fair division of property among interested persons, most commonly observed during divorce proceedings or the settlement of estates.
Guardianship expenses refer to the costs associated with services provided by a guardian for a minor. These expenses are often related to the care and management of the minor's personal and financial affairs, and may be tax-deductible in certain situations.
Private Law governs the relationships between private individuals, companies, or organizations. Unlike Public Law, it does not involve government intervention and encompasses various legal disciplines including contract, tort, property, and family law.
Separate property refers to assets acquired by either spouse before marriage or through gift or inheritance after marriage in community property states.
