• Refers to assets or a method of ownership. Generally, it means that each spouse owns a 50 percent interest in an account. Upon the death of one spouse, the survivor claims his or her ownership of one-half of the asset. The other half will pass in accordance to will or to law. Each state is different in its laws and interpretations. Some states that recognize this method are: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin.
• In certain states, the property that a married couple has acquired over the course of their marriage; in the event of a divorce, the property would be equally divided between them.
| ||Embedded terms in definition|
| ||Related Terms|
| ||Intellectual property|
Managing Your Expenses on a Fixed or Reduced Income: Once you've retired, you finally have the opportunity to work at your dream job - keeping yourself happy. It's your chance to visit places you've always wanted to see, take up a new hobby and spend more time with your family and friends. But to be successful at this new position, you've got to make the most of your income and investments. Here are suggestions. More...
Being busy does not always mean real work. The object of all work is production or accomplishment and to either of these ends there must be forethought, system, planning, intelligence, and honest purpose, as well as perspiration. Seeming to do is not doing. – Thomas Alva Edison