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Jan Copley - The Red State Blue State Perspective

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The Red State Blue State Perspective
by Jan Copley and Brad Wiewel
The Gathering - February 27, 2009

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Jan Copley - The Red State Blue State Perspective

  1. 1. How Community Property Affects You and Your Practice, Even Though You Think it Doesn’t! The Red State Blue State Perspective Jan Copley and Brad Wiewel The Gathering February 27, 2009
  2. 2. Community Property Basics: Pop Quiz • Which states? • What % of population? 2
  3. 3. What is Community Property, Exactly? • Separate Property • Community Property – Owned by spouse – Earned during marriage – Forced share – Each spouse owns ½ – Brought into marriage – Each spouse has right by gift or inheritance to control whole – No forced share rights 3
  4. 4. That’s Not So Hard! So What’s So Special About It? Let me tell you a real-life story 4
  5. 5. How Do You Decide What’s What? Another real-life story! 5
  6. 6. What Happens to the Stuff? • Divorce • Death – Spouse’s share of – Spouse’s share of community property community property distributed to him/her distributed by will or – Includes interests in trust (not necessarily retirement benefits, to survivor!) insurance policies 6
  7. 7. Special Assets • Retirement Benefits 7
  8. 8. Special Assets (cont.) • Insurance Policies What if one spouse has a secret? 8
  9. 9. Life Insurance Trusts • Name some problems! 9
  10. 10. The Mobile Community • People move around • What are Diedre and Bennett gonna do? 10
  11. 11. Modern Love • Living together? • Domestic partnerships? • Same-sex marriage? 11
  12. 12. Defense of Marriage Act aka Defense Against Marriage Act PUBLIC LAW 104–199—SEPT. 21, 1996 110 STAT. 2419 Public Law 104–199 104th Congress An Act To define and protect the institution of marriage. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ‘‘Defense of Marriage Act’’. 12
  13. 13. Thank You For Joining Us Jan Copley Brad Wiewel Attorney at Law Attorney at Law 300 North Lake Avenue 1601 Rio Grande Suite 920 Suite 550 Pasadena, CA 91101 Austin, TX 78701 Phone: 626-568-4020 Phone: 512-480-8828 Fax: 626-568-4025 Fax: 512-480-0888 Email: jan.copley@jancopley.com Email: brad@texastrustlaw.com Web: www.jancopley.com Web: www. texastrustlaw.com PowerPoint Presentation by SmartMarketing 2009

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