In this episode of TFE Talks, Attorneys Jordan Goewey and David Thompson break down the essentials of community property vs. separate property states, highlighting the unique legal frameworks, tax advantages, and estate planning implications, especially for clients moving between states. The discussion covers which states have community property laws, the substantial income tax benefits of community property, and the importance of identifying and segregating assets after relocating. Practical advice is given on using community property trusts and consulting estate planning attorneys early to protect client wealth and ensure the best possible outcomes. Key takeaway: Awareness and proactive planning are crucial for anyone with significant assets or those considering a move between different property law states. Don’t miss these great insights.

Topics in this conversation include:

• What Is Community Property? (1:38)
• States With Community Property Laws (2:38)
• Importance Of Community Property For Estate Planning (4:13)
• Income Tax Benefits Of Community Property (5:19)
• How Title And Community Property Interact (8:39)
• Handling Community Property After Moving States (10:39)
• Preserving Community Property With Trusts (13:14)
• Opt-In States And Elective Community Property (16:08)
• Practical Advice For Advisors And Clients (18:26)

TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.

The information provided in this podcast is for general informational purposes only and should not be considered legal advice. Listening to this podcast does not create an attorney-client relationship with Thomas, Fisher & Edwards or any of its attorneys. Laws and regulations vary, and legal matters are highly fact-specific. For personalized legal guidance, please consult with a qualified attorney.

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