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PREVENTIVE LAW SERIESCALIFORNIA COMMUNITY PROPERTY Prepared by: Legal Assistance Department Region Legal Service Office Southwest 3395 Stuyvesant Street Suite 9 San Diego CA 921365072 (619) 5562211WHAT
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01
Determine the applicable state law as community property laws vary from state to state.
02
Gather all necessary financial documents such as bank statements, mortgage statements, tax returns, and investment statements.
03
Identify all assets and debts acquired during the marriage by both spouses, including real estate, vehicles, bank accounts, retirement accounts, and debts like credit card balances and loans.
04
Differentiate between separate property and community property. Separate property generally includes assets owned before the marriage, inheritances, gifts to one spouse, and certain personal injury settlements. Community property refers to assets and debts acquired during the marriage.
05
Record the value of each community property item, including the date of acquisition and the current value.
06
List any debts associated with the community property and assign responsibility for each debt.
07
Determine how the community property will be divided. This can be done through an agreement between the spouses or by a court order.
08
Consult with an attorney to ensure compliance with state laws and to understand the implications of community property division.
09
Fill out all necessary legal forms to document the division of community property.
10
Review and finalize the division of community property, ensuring all necessary documentation is signed and filed correctly.

Who needs what is community property?

01
Individuals who are married or planning to get married and want to understand how their assets and debts will be divided in the event of a divorce or separation.
02
Couples going through a divorce or separation and need to determine how their community property should be divided.
03
Lawyers, legal professionals, or mediators who assist clients in the division of community property during divorce or legal proceedings.
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Community property refers to property owned jointly by a married couple.
Married couples who reside in community property states are required to file what is community property.
Fill out the necessary forms provided by the IRS and report all income and assets that qualify as community property.
The purpose of what is community property is to accurately report the income and assets owned jointly by a married couple.
All income and assets acquired during the marriage that qualify as community property must be reported.
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