Why is it important to have a contract between spouses implementing the aggregate theory of community property? First, what is the difference? California Probate Code Section 100 provides that upon the death of one spouse, one half of each asset belongs to the surviving spouse, and one half of each asset belongs to the deceased spouse. This is commonly known as the “prorate” theory of community property. And it can create problems. For instance, pretend a husband (now deceased and hereinafter … [Read more...] about Aggregate Theory Community Property Agreement
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