Absolute Trust Talk

Did you know that in California, any property acquired while married is considered Community Property? This means that, regardless of who bought it, the ownership is split 50/50 in the case of divorce. It also means that if you die without valid estate planning documents, your spouse automatically receives 100% of the ownership. If we’re talking about Separate Property, that’s a slightly different story, and of course, there are always exceptions to the rule. This episode of Absolute Trust Talk kicks off our Character Matters series, where we’re diving deep into the important distinctions between these two types of property and why you need to understand this for estate planning purposes. Let’s get started! Time-stamped Show Notes:  0:00 Introduction 0:38 To start, we’re sharing the “celebrity situation” that inspired this new Character Matters series of discussions.  2:26 Before going too far, let’s clarify the basic definitions of our terms. Listen in to learn the key differences between Community Property