Community property refers to a U.S. state-level legal distinction that designates a married individual’s assets. Under community property, spouses own (and owe) everything equally, regardless of who earns or spends the income. Community property is also known as marital property.
Examples of community property may include:
Wages earned by either spouse during the marriage
Home and furniture purchased during the marriage with marital earnings
Interest income earned by business investments and operations.
At the Law Office of John Barron, we can help you navigate this, sometimes difficult, part of divorce. Give our office a call today. 337.270.2323