Law about consumer financial problems
Sherman v. Sherman, 330 N.J. Super. 638 (Ch. Div. 1999), is a case regarding who controls the disposition of a corpse, with the Court applying state legislation instead of common law principles on disposition.
Southern Life & Health Ins. Co. v. Morgan, 21 Ala. App. 5 (Ala. Ct. App. 1925), is an Alabama Court of Appeals case that established that spouses can lose their rights in the honoring of the deceased if they do not act within a reasonable time, and the case establishes that the next of kin will assume the rights.
Spousal share (also called forced, elective, or statutory share) refers to the amount state laws entitle a spouse to after their spouse passes regardless of what is in a will. Spousal shares prevent spouses from changing the amount through a will as with intestacy laws. Instead, a person can either take what is in the spouse’s will or what the state spousal share laws would give. States differ on how much spousal statutory shares should be.
Spousal support, also known as alimony, is a legal obligation on a person to provide financial support to their spouse before or after marital separation or divorce.
See: Social Security Administration
[Last reviewed in September of 2021 by the Wex Definitions Team]
Standard mileage rate is a basic tax deduction per mile offered by the IRS for individuals traveling for business, medical, and charitable purposes. An individual must report the amount of covered miles to the IRS in order to claim a tax deduction, and the individual must either use the standard mileage rate or calculate their actual costs per mile.
Statutory lien is a category of liens that stem from statutes and do not depend on the common law or specific contractual provisions for their existence.
A Stock dividend refers to corporate dividends compensating shareholders or employees in the form of stocks instead of money. Companies issue stock dividends typically in the form of a certain percentage per share. For example, a company may issue a stock dividend of 3%, meaning that someone with 100 shares would receive three more shares.
A storage lien is a security interest that may be acquired in property by someone who provides storage services for that property. The failure to pay for services as agreed may allow the lien holder to keep possession of the property involved.
