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What is community property? Hi. My name is Eric Engel. I'm a
divorce lawyer with the Engel Law Group here in Seattle,
Washington. Community property is a basic tenant of divorce law
in Washington State. Community property is defined as any asset
acquired during the course of the marriage. Whether that be
401k asset, a home, a car, cash in your bank account, anything
at all that is acquired during the course of your marriage is
considered community property. There are 3 basic exemptions to
community property. One: if it's a gift. Two: if it's an
inheritance. And three: if it's a settlement from a personal
injury lawsuit. In Washington State, community property is
usually split between the spouses. It can either be a
50/50 split or it can be a more one-sided split if one spouse
makes significantly more than the other. Why am I telling you
this? I'm telling you this because you're thinking about
getting a divorce and you want to know what your financial
exposure is to your husband or your wife. I deal with these
sorts of problems every day. Pick up the phone and call us at
206-625-9800. Thank you for watching
my video on community property.