Tip:
Highlight text to annotate it
X
bjbj TRANSCRIPT | DEATH AND DIVORCE: COMMUNITY FUNDS INTO SEPARATE PROPERTY Kellie F. Stokes
| Stokes Law Office, PLLC| www.kstokeslaw.com QUESTION: If you have separate property, and
then you marry, okay, and from that point till the divorce, if the separate property
appreciates, is that amount community property or is that still stay separate property? KELLIE
STOKES: No, the growth on the separate property would still be separate property. If you turn
back to page one, you asked an excellent question, under roman numeral four, right down there
where is says community right of reimbursement. Okay, this is where it gets hard and makes
people s brains hurt, because what does that mean? Kinda going along with what your question
is, um, under A, it says even though a spouse may have no ownership interest, if the owning
spouse uses community or comingled funds, the other spouse may have a right to have
the proceeds of a sale of the separate property applied to reimburse a homestead, or basically,
the community assets. So let s say for example, she had that home, that there was a note on
that home, and they get married. And then they start using their community property,
which by definition, anything acquired as an employee, you know, your wages are going
to be community property. So they start using those community property funds to pay down
that mortgage on that separate property of hers, does that, do you understand what I
m saying? Um, the community that threw those funds that way would have a right to reimbursement
of those funds, because they helped, the community, helped grow her separate property. So that
community has a right to reimbursement. When is that important? When the divorce happens.
And so when you start seeing people bicker bicker bicker bicker that s the kind of stuff
that really causes the bickering, is because, you know, here s someone thinks they have
this property that s completely theirs and separate, and then this smart lawyer on the
other side comes in and says, Yes, but you ve been using for the past twenty years proceeds
from the community to, um , maybe to fix things, the air conditioning on this property, to,
you know, to pay down the mortgage, to do all these, you know, have a brand new pool
put it, whatever you know, whatever you did, this community property now has, the community
has a right to reimbursement But, it cannot change face, it s always separate property,
okay, unless they state it otherwise down the road. Um, but it s always going to be
separate property, it s just the right to reimbursement under that example. hxTu [Content_Types].xml
Iw}, $yi} _rels/.rels theme/theme/themeManager.xml sQ}# theme/theme/theme1.xml w toc'v )I`n 3Vq%'#q
:\TZaG L+M2 e\O* $*c? )6-r IqbJ#x ,AGm T[XF64 E)`# R>QD =(K& =al- 4vfa 0%M0 theme/theme/_rels/themeManager.xml.rels
6?$Q K(M&$R(.1 [Content_Types].xmlPK _rels/.relsPK theme/theme/themeManager.xmlPK theme/theme/theme1.xmlPK
theme/theme/_rels/themeManager.xml.relsPK
Owner Normal.dotm Owner Microsoft Office Word Title Microsoft Office
Word 97-2003 Document MSWordDoc Word.Document.8