What is "community property?"
Community property is property acquired by the spouses
during the marriage. Generally, the law presumes that any property purchased or
obtained by either spouse during the marriage is community property. Community
property is not just land or buildings. It includes all kinds of property, such
as money (all forms-cash, bank accounts, investment accounts), jewelry, home
furnishings, automobiles, boats, stock options and the wages or earnings of
either spouse during the marriage. Even retirement plans and pensions can be
part of the community property estate.
No comments:
Post a Comment