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”

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2
Q

What is the general process of characterization of property?

A

To determine characterization of an asset ask:

  1. When was the asset acquired;
  2. how was the asset acquired (labor/gift);
  3. did either or both spouses CHANGE the asset’s character?
  4. is there any legal presumption that may affect the character of the asset?
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3
Q

Who does the “community property” system apply to?

A
  • married couples
  • registered domestic partners
  • same sex couples, elderly opposite sex couples
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