Free Republic
Browse · Search
General/Chat
Topics · Post Article

To: proxy_user

Good point. Yes, the rules are different in community property states and are more complicated (AZ, CA, ID, LA, NV, NM, TX, WA, WI). Money earned by either spouse during marriage and all property bought with those earnings are considered community property that is owned equally by husband and wife. Debts incurred during marriage are generally debts of the couple. At the death of one spouse, half of the community property goes to the surviving spouse unless the one who died left a will that directs otherwise. (Courtesy Nolo).

Best to consult a tax advisor or attorney. Our attorney figured all this out for us and I don’t recall all the details (we live in CA - lucky us!).


35 posted on 01/06/2013 11:48:25 AM PST by ProtectOurFreedom
[ Post Reply | Private Reply | To 31 | View Replies ]


To: ProtectOurFreedom
We live in Colorado. We are contacting a CPA and probably an attorney.

Thank you!

36 posted on 01/06/2013 11:52:48 AM PST by dhs12345
[ Post Reply | Private Reply | To 35 | View Replies ]

Free Republic
Browse · Search
General/Chat
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson