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Saturday, October 31, 2015

Worst States to get Married in: Part 2 (states with community property)

After lifetime alimony, the second most financially devastating part of a divorce would be losing half of your stuff. This is a result of community property. In community property, most of the property acquired in a marriage becomes the property of both individuals. After a divorce, the property would be divided between both individuals.

I actually was wrong about community property in the fact that I believed that the entire estate of both parties would be split up 50/50. As it turns out, property owned before a marriage is typically not subject to being divided. Community property becomes more and more dangerous the longer a marriage goes on for as more and more wealth is (supposed to be) acquired. It is very risky for men who tend to have a higher earning potential than their wives. If both the man and woman work, have the same earning potential, and same spending habits, the risk isn't anywhere near as great.

I would have thought that community property was the norm for most of the Untied States however there are only nine states that have community property. The states are as follows.

Arizona
California
Idaho
Louisiana
Nevada
New Mexico
Texas
Washington
Wisconsin

Each of these states gets a point.

The total standing is as follows.

Washington 2

Arizona 1
California 1
Idaho 1
Louisiana 1
Michigan 1
Nevada 1
New Hampshire 1
New Jersey 1
New Mexico 1
Oregon 1
Texas 1
Virginia 1
Wisconsin 1


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