Does California have community property with right of survivorship?
Does California have community property with right of survivorship?
In addition, California allows married couples to hold property as “community property with right of survivorship.” Each method has its own advantages.
Which is better joint tenancy or community property with right of survivorship?
Generally, property held as community property with right of survivorship has tax advantages over a joint tenancy. Whereas, community property with right of survivorship is not subject to capital gains tax when sold.
Does Community Property avoid probate?
If you live in a community property state, you and your spouse (or registered domestic partner) may be able to avoid probate by taking title to property as “community property with the right of survivorship.” If this option is available to you, it's likely to be a better choice than joint tenancy.
How should married couples hold title in California?
As a general rule married couples should take title to any California real estate they own, accumulated during their marriage, as “Community Property with Right of Survivorship.” That's the take-home bullet.
