J. H. Colter
2008-03-11 07:45:53
Yet another reason to support adoption of community property in your home state. Community property is a system of property ownership in which the earnings of each spouse are technically owned by the “community,” and each spouse has an undivided one-half interest in the community. Thus, unlike the common law system (where you each own what you make), each spouse owns one half of what both spouses collectively earn.
In other words, community property treats a marriage as a team. Unfortunately, there are only 9.5 community property states (Alaska has some kind of elective system, I think), so most of us do not live in one.
