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Figuring out Community Property Interest in Dwelling of Debtor Acquired by Nondebtor Spouse
Vernon;
Yes, the residence is still just in her name. Thank you. I double
checked with the client and didn't know to ask that.
So you are saying the Moore/Marsden calculation is complicated, but you
also seem to infer you do it yourself. Should I not hire an expert
accountant?
Steve
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There is a rule in family law to determine the community property and
separate property interests in a property acquired prior to marriage. It is
called the Moore Marsden Rule. It is a relatively simple calculation and a
quick Google search will lead you to it. But if you need additional
assistance, I am always happy to help as well.
Desiree Causey, Esq.
Law Office of Desiree Causey
17011 Beach Blvd., Suite 900
Huntington Beach, CA 92647
causeylaw@gmail.com
714-375-6663
714-908-7646 (fax)
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I have a client who married his nondebtor spouse 6 years ago, with no
prenup, and now has a community property interest in her house that she
acquired 8 years prior to marriage. There is substantial equity in the
house, well above $100K that I can exempt. However, I think I only need
to exempt his community property interest, not her separate property
interest.
The question is how to determine the community property interest. I'm
thinking about hiring an accountant that specializes in family law to
determine that interest in the residence, as well as their savings which
was mostly accumulated by the wife prior to marriage.
Question 1: Does anyone know such an expert they can recommend: and
Question 2: Do you think an expert is necessary.
Thank you
Steve
Law Offices of Steven B. Lever
>
> Steven B. Lever
>( Tel. (562) 436-5456 ext. 1
>( Fax (562) 485-6886
>* sblever@leverlaw.com
> www.leverlaw.com
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