PANLIMONY

A combination of the words “pal” and “alimony” that refers to the division of assets and property when a couple who wasn’t legally married splits up. Some states allow partners who are unmarried and have been living together to keep all of the assets that are under their names, while other states provide for an equal distribution of the assets and property if a couple has been living together for a certain number of years but remains unmarried. The term was originally used by the attorney Marvin Mitchelson on behalf of Michelle Triola Marvin in her lawsuit against Lee Marvin. Given how easy it is to end up like Ms. Triola Marvin who lost in court even with one of the nation’s top divorce attorneys, it is best draw up a legal agreement on how to divide property and assets ahead of time when you decide to move in together if you are not legally married, just in case nastiness should occur.