Alaska Prenuptial Property Agreement Designating Status of Separate and Community Property
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How to fill out Prenuptial Property Agreement Designating Status Of Separate And Community Property?
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FAQ
Alaska Property Division General InformationAlaska is a community property state, and only property acquired during the course of the marriage is subject to division following divorce.
Property that one party owned before the marriage is not owned by the community, and thus is treated as separate, and not community property. Separate property also encompasses gifts and inheritance specifically given to one party, and property purchased or earned after the separation.
California is a community property state. In plain English, this means that generally, property acquired during the marriage by either spouse is presumed to be owned by each spouse equally.
In 1998, Alaska became the tenth community property state and, in contrast, adopted an optional community property system. That is, the default property system is separate property, but a couple may opt into a community property system.
Though not a community property state, Alaska does have an opt-in community property law. That means spouses can divide their property by community property agreement standards, but they don't have to.
The only asset that may be excluded from the joint estate is an inheritance.
Alaska is an unusual combination of the two: It is an equitable property state with a law allowing couples to choose community property rules by executing a community property agreement or a community property trust.
Assets and Debts in Your Alaska Divorce. Alaska is an equitable distribution state, requiring a fair but not necessarily 50-50 split of what you acquired during the marriage. This is also a full disclosure state, subject to fraud prosecution for hiding assets or otherwise depriving the spouse of an equitable share.
Separate property in a community property state includes:All property owned by a spouse prior to marriage. Any property obtained by a spouse after a legal separation. Any property received as a gift or inheritance during the marriage from a third party such as joint banking accounts. Any pre-marriage debts.
Marital property/debt will be divided between you and your spouse as part of the divorce; separate property/debt will not be divided. The general rule is that marital property and debt is any property or debt acquired during the marriage for the benefit of the marriage.