What does forfeiture of benefits mean?

What does forfeiture of benefits mean?

Forfeiture of patrimonial benefits entails a court granting an order of divorce and. including an order that one party forfeits the assets which would have been acquired. by them as a result of the marriage in community of property or benefits accrued as. a result of an ante-nuptial claim.

What does unduly benefit mean?

1 excessive or unwarranted. 2 unjust, improper, or illegal. 3 (of a debt, bond, etc.) not yet payable.

What is forfeiture in divorce?

It is a matter of daily and uniform practice in actions for divorce, where a forfeiture is asked, to declare, on a dissolution of the marriage, that the guilty spouse has forfeited, not his or her property brought into the marriage, but the benefits arising from the marriage.

What does it mean to Antagonise?

: to cause (someone) to feel hostile or angry : to irritate or upset (someone) See the full definition for antagonize in the English Language Learners Dictionary. antagonize.

What does unduly mean in English?

: in an undue manner : excessively an unduly harsh punishment unduly sensitive.

Which is the best description of a forfeiture?

What Is Forfeiture? Forfeiture is the loss of any property without compensation as a result of defaulting on contractual obligations, or as a penalty for illegal conduct. Forfeiture, under the terms of a contract, refers to the requirement by the defaulting party to give up ownership of an asset, or cash flows from an asset.

Can a forfeiture order be made on patrimonial benefits?

The forfeiture order relates only to the benefits of the marriage … . The precise nature of these benefits depends on the particular matrimonial regime’ (Schäfer Family Law Service: Issue 54, October 2010, 26 – 27). The party claiming forfeiture must show the court that the other party will be benefited if the order is not made.

What is an example of a 401k forfeiture?

The best way to answer this question is with an example. The ABC Company 401 (k) Plan has a forfeiture account balance of $2,000. ABC decides to make a profit-sharing contribution of 5% of compensation for the year, which equals $20,000 for the year.

When do retirement plan forfeitures have to be used?

That is correct. The forfeitures must be used up each year, based on the timing specified in the plan document. They cannot be accumulated. The IRS provided a useful summary of this requirement in its Spring 2010 Retirement News for Employers newsletter, which is available here.

What Is Forfeiture? Forfeiture is the loss of any property without compensation as a result of defaulting on contractual obligations, or as a penalty for illegal conduct. Forfeiture, under the terms of a contract, refers to the requirement by the defaulting party to give up ownership of an asset, or cash flows from an asset,

What does a nonforfeiture clause mean on an insurance policy?

Key Takeaways A nonforfeiture clause is an insurance policy clause stipulating that an insured party can receive full or partial benefits or a partial refund of premiums after a lapse due to non-payment. Permanent life insurance, long-term disability, and long-term care insurance policies may have nonforfeiture clauses.

Why is asset forfeiture important to the federal government?

Asset forfeiture has become one of the most powerful and important tools that federal law enforcement can employ against all manner of criminals and criminal organizations — from drug dealers to terrorists to white collar criminals who prey on the vulnerable for financial gain.

Can a person be charged with a crime under a Forfeiture Act?

In such proceedings, the guilt or innocence of the property owner regarding any criminal activity is irrelevant. Thus, under the Forfeiture Act, the government may remove property from persons it suspects of a crime, without ever charging them with a crime.