Couples considering a second marriage often have many questions about their assets.
Should they continue deposits into their IRAs? Would their pre-marital assets be exposed if their new spouse were sued?
Should they get a prenuptial agreement?
What Is Community Property?
So far, just nine states and the U.S. Territory of Puerto Rico have adopted a community property system. California is one of the states with community property laws in effect.
First, let's take a look at what constitutes community property. In California, it is any asset either acquired or earned (as in income) by a married person living with a spouse.
What about your inheritance from Grandma Betty that you received prior to your wedding? That inheritance will remain as your separate property.