D L <
debbie.lafourche@gmail.com> wrote:
I understand that community property has a tax advantage upon the
death of a spouse where no capital gains will be paid by the
surviving spouse. Whereas, in case of joint tenants, the surviving
spouse has to pay capital gain on the share of the deceased
spouse. Is this right?
Essentially. To avoid the dilemma of whether to title property as
joint tenants for ease of transfer on the death of one spouse, or
community property for the tax benefit, California instituted a form of
holding title called Community Property with Rights of Survivorship.
If you hold title that way (only available for spouses) you get the
benefits of both joint tenancy and community property.
--
Stu
http://DownToEarthLawyer.com
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