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Details Community Property vs Separate Property Jack, a lawyer, and Jill, a software engineer, are engaged to be married. Jack owns a vintage sports car
Details Community Property vs Separate Property Jack, a lawyer, and Jill, a software engineer, are engaged to be married. Jack owns a vintage sports car and Jill has a stock portfolio. Six months after the wedding, the couple purchases a house for $680,000. They contribute equally to the mortgage payments. One year later, Jill receives a $70,000 inheritance from her grandfather. Shortly after that, an important case settles and Jack collects an attorney's fee of $115,000. In celebration, he buys himself another vintage sports car. Now, after three years of marriage, Jack and Jill are getting a divorce. Classify each of the following items as separate or community property: the first sports car the stock portfolio the house the inheritance the second sports car Details Community Property vs Separate Property Jack, a lawyer, and Jill, a software engineer, are engaged to be married. Jack owns a vintage sports car and Jill has a stock portfolio. Six months after the wedding, the couple purchases a house for $680,000. They contribute equally to the mortgage payments. One year later, Jill receives a $70,000 inheritance from her grandfather. Shortly after that, an important case settles and Jack collects an attorney's fee of $115,000. In celebration, he buys himself another vintage sports car. Now, after three years of marriage, Jack and Jill are getting a divorce. Classify each of the following items as separate or community property: the first sports car the stock portfolio the house the inheritance the second sports car
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