Legal Question in Family Law in California
Community Property Definition
Your spouse inherits a large amount of cash (thus not community property). He/she invests, creating large taxable profits (profits, albeit perhaps some/all of long term capital gains, of comparable size to your income, say 50% or so). You file a joint (or separate) return with the IRS, but pay the tax due due to his/her investment out of your salary, not out of the profits of the investment (thus the investment value is not reduced by the tax portion that would be due from the gains). Does this constitute commingling, and thus the whole of the inheritance is community property? I assume the same applies if it is a gift?
1 Answer from Attorneys
Re: Community Property Definition
The answer to you question would depend upon many factors that you have not included in your question. With the amount of money that appears to be involved you should consult with an attorney.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
