Frequently Asked Questions (FAQs)
Joint tenancy, Community Property, Domestic Partnerships
What is joint tenancy? What is community property? What is community property with right of survivorship?
Joint Tenancy is a form of co-ownership in which two or more persons own property in equal undivided interests as their separate property.
If the surviving spouse becomes the sole owner of the family home when one of us dies, what difference does it make whether our home is community property or not?
Step Up. When an individual dies, the income tax basis of assets owned at death are “stepped-up” to the value at death.
Are there any other important differences between community property and separate property when one of us dies?
One very important one. Historically, joint tenancy property provides greater protection than community property...
Can we establish the community property character of our home through a living trust?
Yes. Title to your family home will be in your names as Trustees of your living trust.
What is a domestic partnership?
Certain couples can register as domestic partners with the California Secretary of State.
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