Introduction Flashcards
1
Q
What is the general rule re: Community Property?
A
In General:
Absent an agreement to the contrary, all property acquired during the marriage by the labor of either spouse is “community property”
2
Q
What is the general process of characterization of property?
A
To determine characterization of an asset ask:
- When was the asset acquired;
- how was the asset acquired (labor/gift);
- did either or both spouses CHANGE the asset’s character?
- is there any legal presumption that may affect the character of the asset?
3
Q
Who does the “community property” system apply to?
A
- married couples
- registered domestic partners
- same sex couples, elderly opposite sex couples