Community Property Law in a Mobile America. A Comprehensive Guide for Estate Planners - Brock Exline;Alan Gassman;Vincent Miranda

As Americans grow increasingly mobile, estate planning practitioners routinely encounter clients whose marital property includes community property acquired in one or more states, as well as clients who may benefit from elective community property trust statutes now available in Alaska, Tennessee, Kentucky, South Dakota, and Florida. Because community property generally retains its character even after a couple relocates to a separate property state, estate planners in every jurisdiction must be prepared to identify community property interests and navigate the planning complexities they create. Yet many estate planners practicing in separate property jurisdictions receive limited training on the community property system, its variations across states, and the federal tax consequences that flow from community property characterization.

Community Property Law in a Mobile America fills that gap. Written for estate planning attorneys, tax advisors, and trust professionals, this comprehensive guide walks practitioners through the full landscape of community property law as it intersects with estate planning, from foundational principles to advanced planning strategies. The authors trace the historical origins of the common law and civil law traditions that gave rise to today's divergent marital property frameworks before examining the critical differences among the nine traditional community property states and the newer elective community property trust jurisdictions. The book addresses property transmutation, creditor rights, choice-of-law principles for migratory spouses, the Uniform Disposition of Community Property Rights at Death Act, and the federal tax treatment of community property, including a thorough analysis of whether the elective community property trust statutes in opt-in jurisdictions should afford users the double step-up in basis under § 1014(b)(6), along with the legislative history of the Revenue Act of 1948 that informs that question.

Practical guidance throughout the text covers coordinating joint revocable trusts, preparing Form 706 for estates that include community property, characterizing life insurance and retirement plan assets, and avoiding common pitfalls when planning for clients who have moved between states with different marital property regimes. Each chapter emphasizes the state-specific variations that make this area of law both powerful and complex, equipping practitioners to identify key issues, ask the right questions, and collaborate effectively with local counsel across jurisdictions.