euphemism for the offspring of an illegitimate relationship
"That night that Darrell and I...well...you know, this is our lovechild"
The name applied to any child of an illegitimate relationship, generally between two rich celebrities. In almost all cases, the rubber has broken or the child is otherwise an accident during a small 3 week fling, and instead of just calling it a "bastard baby", spindoctor's have coined the word "lovechild."
Did you hear about celebrity "X" and "Y"? They got drunk one night after a big Hollywood party, one thing led to another and the next thing...."X" gave birth to a lovechild, who "Y" has not nor ever will care about or wish to see.