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The community property concept originated in civil law jurisdictions but is now also found in some common law jurisdictions. U.S. states with community property laws draw primarily from the marital property laws under the civil law of France and Spain. [10] Division of community property may take place by item by splitting all items or by values.
Community of Acquests and Gains: Each spouse owns an undivided half-interest in all property acquired during the marriage, except for property acquired by gift or inheritance during the marriage, which is separate property; or which traces to separate property acquired before the marriage, which remains separate property; or which is acquired during a period when the couple are permanently ...
Iowa does not have an estate tax, but it has an inheritance tax. In this article, we'll explore the details of this tax, and break down Iowa's other inheritance laws, including the probate process ...
The question of property is complicated though, and can be dependent on whether you live in a community property state or an equitable distribution state — each dividing marital assets differently.
In an exception to the statutory expansion of the legal rights of married women, the California Constitution of 1849, drawing on the community property tradition of Spanish civil law rather than the common law tradition, distinguished a wife's property from community property: "All property, both real and personal, of the wife, owned or claimed ...
Community property law can get tricky, especially if you mixed your assets with your spouse’s. Hiring an estate attorney can help your spouse make sense of the law and understand what they are ...
Matrimonial regimes, or marital property systems, are systems of property ownership between spouses providing for the creation or absence of a marital estate and if created, what properties are included in that estate, how and by whom it is managed, and how it will be divided and inherited at the end of the marriage.
Most states have done away with community property laws. Currently, there are nine states that still have community property laws: Arizona. California. Idaho. Louisiana. Nevada. New Mexico. Texas ...
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