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Tax filing with separate property

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  • 03-27-2007, 04:33 PM
    artms
    Tax filing with separate property
    My husband and I are living separately but have not formalized it as a legal separation. I have inherited property which has never been commingled. Does filing married jointly change the character of my separate property to community property? We live in California
  • 03-28-2007, 09:05 AM
    Mr. Knowitall
    Re: Tax filing and separate property
    It shouldn't affect your inheritance as separate property. You should consult a family lawyer about your situation, and make a plan for the future (e.g., whether you're going to formalize the separation, divorce, etc., and what financial planning steps you might take in anticipation of formal separation or divorce.)
  • 03-28-2007, 12:21 PM
    artms
    Re: Tax filing with separate property
    That's good news. I have made an appointment. It'll be good to get things formalized. There's too much at stake.

    Thanks again!
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