Is marital property the same as community property?
Table of Contents
Is marital property the same as community property?
Marital Property and Community Property States Community property states follow the rule that all assets acquired during the marriage are considered “community property.” Marital property in community property states are owned by both spouses equally (50/50).
How is property settlement determined?
Firstly, the assets, liabilities and financial resources of the couple are identified and valued. Secondly, the financial and non-financial (such as the homemaker role) contributions are assessed. Thirdly, the future needs of the parties are considered, as detailed below.
What do divorce settlements look for?
There are many factors to consider, including assets, incomes, living expenses, inflation, alimony, child support, taxes, retirement plans, investments, medical expenses and health insurance costs, and child-related expenses such as education.
How do I stop my husband from getting my inheritance?
One of the best ways to protect your inheritance is to keep it separate from all marital property. Don’t deposit it into an account you share with your spouse or use it to fund joint purchases.
