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The more important tax aspect of a transmutation agreement is the effect that it has on basis step-up (or step-down) at death. If the spouses had held the property separately in joint tenancy with a right of survivorship, the surviving spouse would automatically receive his or her half of the property by operation of law through the original ...
Separate Property with Equitable Distribution: Under this system, when substantially more property acquired during a marriage is owned by one spouse (e.g. title to all marital property is held in the husband's name only), the courts will make an equitable distribution of the richer spouse's property at death or dissolution of the marriage.
This is most common in states with community property laws. This means that a surviving spouse must pay the debts of the deceased spouse using jointly-held property, such as a home.
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 ...
The homestead exemption is a legal regime to protect the value of the homes of residents from property taxes, creditors, and circumstances that arise from the death of the homeowner's spouse, disability, or other situations. Such laws are found in the statutes or the constitution of many of the states in the United States.
Family visitation rights for the spouse and non-biological children, such as to visit a spouse in a hospital or prison; Next-of-kin status for emergency medical decisions or filing wrongful death claims; Custodial rights to children, shared property, child support, and alimony after divorce; Domestic violence intervention
In 1991 Louisiana abolished the forced heirship provision for spouses; however, at death the spouse's interest in any community property is converted to his or her separate property; and a usufruct is granted over the remaining community (with the forced heirs as naked owners of their respective shares). That usufruct terminates at death or ...
Suing for wrongful death of a domestic partner; Rights involving wills, intestate succession, conservatorships and trusts; The same property tax provisions otherwise available only to married couples (Cal. R&T Code §62p) Access to some survivor pension benefits; Supervision of the Superior Court of California over dissolution and nullity ...