Marriage

Question 1

Default Marriage Co-Ownership

Answer 1

TbE

Question 2

Two systems of marital property law in the United States:

Answer 2

the separate property system and the community property system.

Question 3

Separate P System (CL)

Answer 3

The separate property system regards property as being solely owned by the spouse who earned it or obtained it. Furthermore, each spouse is individually liable for separate debts that they incur during the marriage.

Question 4

SPS Death

Answer 4

The separate property system imposes some risks on low earners if the high-earning spouse dies first. In theory, in a separate property estate, a person should be able to do whatever he wants with the money he earned during the marriage.

However, every separate property jurisdiction has passed legislation to protect the spouse of the deceased from being completely disinherited. These laws, called elective share statutes,

Question 5

Elective Share Status

Answer 5

allow the spouse a choice; they can take what the deceased left to them under the will, or they can take a statutorily prescribed minimum. (1/3)

Question 6

SPS Divorce

Answer 6

system of “equitable distribution.”

Upon divorce, courts can use their discretion to divide the couples’ property based on equitable principles.

Equitable distribution is generally limited to property acquired during the marriage.

In this way, longer marriages typically lead to greater redistribution, and shorter marriages, to less redistribution.

Question 7

Community P System

Answer 7

any property earned during the course of the marriage belongs to each spouse equally. This includes any property purchased with income earned during the marriage.

The one big exception to the rules: Property owned before marriage and property acquired by inheritance or gift during the marriage remains separate property in most states.

Question 8

CPS Creditors

Answer 8

In some states, creditors can reach whatever property a spouse is entitled to manage.

Other states only allow creditors to reach community property if both spouses consented to the relevant debt.

Question 9

CPS Death

Answer 9

In a community property state, each spouse owns one-half of the property earned during the marriage. This protects lower-earning spouses without the need for a legislative intervention.