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Form #943

Agreement As to Disposition of Community Property

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Agreement As to Disposition of Community Property after Death of Spouse - Free Legal Form

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Agreement as to disposition of community property after death of spouse.

Agreement is made this _________, 19__, between _________, of _________, husband, and _________, of _________, wife.

Recitals:

The parties are now and ever since _________, 19__, have been husband and wife.

Each of the parties were married prior to their marriage to each other, and each have children born of their former marriages, but there are no children born of the marriage of the parties.

Husband was at time of marriage to wife the owner of certain real estate at _________, which property was and is the sole and separate property of husband.

At the time of the marriage, husband was owner of certain personal property which has been used by both husband and wife since their marriage, and is commingled with their earnings since marriage.

It is agreed that that personal property is the community property of the parties.

Husband has made a will providing for support and maintenance of wife.

Wife desires that if she shall die prior to death of husband that husband shall have the right to use of her ½ of community property for the remainder of his life, subject to the terms and conditions contained in this agreement, and that such use of the property by husband shall be vested in husband under the terms of this agreement.

Therefore, it is agreed as follows:

1. In consideration of the mutual agreements, husband agrees that in event of death of wife prior to his death, husband shall promptly have a complete inventory made of all personal property owned by the parties at the time of death of wife, fixing their fair market value, such inventory and appraisement to be taken by three disinterested persons, and the value fixed by the appraisers shall become final and conclusive as to the value of the community property.

2. After the inventory, husband agrees to provide, by codicil or otherwise, that at time of his death, there shall be paid in equal shares to the heirs of wife, named below, value of ½ of the community property without interest, after death of husband.

3. On death of wife, if she shall die prior to death of husband, title to all of the community property shall become immediately vested in husband, and heirs of wife shall have no right or interest in it, except as against estate of husband after his death and only to amount of respective shares in ½ of the community property as determined by such inventory, and nothing contained in this agreement shall be deemed to in any wise give heirs of wife any right or claim to it, until after death of husband.

4. The share of wife in the community property shall be paid to the following-named persons in equal shares and in case of death of any of them, shall go to the child or children of such heirs, if any. If any heirs shall die without issue, then the shares shall be divided among the remaining heirs or the child or children of any of them who are deceased.

The names and addresses of the heirs are as follows: _________.



 
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Terms Of Use

Submissions to this site, including any legal or business forms, posts, responses to questions or other communications by contributors are not intended as and should not be construed as legal advice. You are strongly encouraged to consult competent legal council before engaging in any action based upon content contained on this site.

These downloadable forms are only for personal use. Retransmission, redistribution, or any other commercial use is prohibited. This includes reposting forms from this site to another site offering free legal or other document forms for download.

Please note that the donator may have included different usage terms regarding this form, and you agree to abide by these terms. It is highly recommended that you have a licensed attorney review any legal documents for which you are searching in order to make sure that your needs are being properly and completely satisfied.

Your use of this site constitutes your acceptance of our terms of use and your agreement to hold this site, its officers, employees and any contributors to this site harmless for any damage you might incur from your use of any submissions contained on this site. If you do not agree to the above terms, please do not proceed.

These forms are provided to assist business owners and others in understanding important points to consider in different transactions. They are offered with the understanding that no legal advice, accounting, or other professional service is being offered by these documents or on this website. Laws vary in the different states. Agreements acceptable in one state may not be enforced the same way under the laws of another state. Also, agreements should relate specifically to the particular facts of each situation. Therefore, it is important to consult legal counsel whenever utilizing these forms. The Forms are not a substitute for legal advice YourFreeLegalForms.com is not engaged in recommending or referring members on the site or making claims about the competence, character or qualifications of its participating members.
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Comments

submitted 11/4/2008
by DavidMarshall  

"When a couple remarry, they often come with children and property. As they bring their lives together, the couple should plan for the future and the inevitability of death. This agreement allows the couple who have no further children, to plan how the property should be divided so that the outcome is fair or, if not fair, then the reasons for the inequality are clearly agreed so that there will be less bitterness between those who are left with a smaller share in the estate. Naturally, the clauses in this form are simply examples of the different ways in which provision may be made. It is always worth discussing issues like this with a professional before making final decisions in an agreement like this."
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Keywords: legal forms, death of spouse, disposition of community property, community property

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