Community Property Survivorship Agreement

(In addition, heirs cannot simply release property as part of the spouse`s estate, since it was a matter of transferring property outside the succession process.) For this to work, spouses must develop a partition and exchange agreement that is granted as separate ownership to any spouse interested in the property. The transaction would be treated as being between unrelated parties. If the spouses want to relax twice – that is, if the first of them dies and the second of them dies – they should consider a Living Trust instead of using a Community Property Survivorship Agreement. Living Trusts also offers a disability plan that cannot be included in a survival agreement. The solution is for a couple to agree a posteriori to own the property with reversion rights. . . .