Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

cost-of-living adjustment

Read a random definition: involuntary bailment

A quick definition of cost-of-living adjustment:

Term: COST-OF-LIVING ADJUSTMENT

Definition: A cost-of-living adjustment is when the amount of money someone gets paid goes up or down based on how much things cost. The government keeps track of how much things cost and uses that information to decide how much money should be paid. This is usually used for support or maintenance payments between two parties. It is often abbreviated as COLA.

A more thorough explanation:

A cost-of-living adjustment (COLA) is an automatic increase or decrease in the amount of money paid by one party to another, usually for support or maintenance. The adjustment is tied to the cost-of-living-adjustment figures maintained and updated by the federal government.

For example, if a person is receiving alimony payments from their ex-spouse, the agreement may include a COLA clause that adjusts the amount of the payments based on changes in the cost of living. If the cost of living goes up, the alimony payments will increase accordingly.

Another example is Social Security benefits. The government provides a COLA each year to adjust the amount of benefits to keep up with inflation and changes in the cost of living.

These examples illustrate how a COLA works to ensure that payments keep up with the changing cost of living. It helps to prevent the recipient from experiencing a decrease in their standard of living due to inflation.

cost of carrying | cost-of-living clause

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.