Question
California and 8 other states (including Washington) have adopted Community Property laws. Under these laws, income earned or property acquired by a spouse during the
California and 8 other states (including Washington) have adopted Community Property laws. Under these laws, income earned or property acquired by a spouse during the marriage (except for property received a single spouse as a gift or through will or inheritance) is jointly owned by both spouses as part of the marital unit. Upon divorce, community property is split 50/50 (UNLESS there is a pre-nuptial agreement indicating otherwise.)
How do you feel about community property laws?
Do you agree and feel community property is the fair way to view marital property?
Or do you disagree and feel it is unfair? Why or why not?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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