Tuesday 26 July 2011

Community Property Agreement.

Are you married, own a home & a Washington State resident?

Have you completed & filed a 
'Community Property Agreement' form at your local court house?  

I recently learned of this very important form & thought I would help spread the word to make sure you complete it as well.  In the event that you or your spouse die, this simple form saves you months of headaches, money & time.  This lawyer's site explains the form pretty well.   You can download a free copy online (just Google it but, let me know if you can't find it), have a Notary stamp it, & then file it with your county courthouse... In our case, we had to go downtown & file it with the King Co. Superior Court for a fee of $64.

Wouldn't you think that if you're married & your spouse dies that you would be the rightful owner of your property?  Nope, not until the State determines that....  If you don't fill out one of these forms (EVEN if you have a will!!!) the process STILL has to go through a lengthy, costly probate for the state to determine that you get your property...  One lady I heard about had to wait 14 months!

So, look into it peeps!

Please note:  I think every state has this form so, if you don't live in Washington it would behoove you to research the laws of your state.  

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