The term “community property” as applied in estate planning is propert

The term “community property” as applied in estate planning is property that

A)

belongs to the government and therefore cannot be bequeathed by private individuals.
B)

was acquired by the joint efforts of husband and wife and in which each equally shares in the ownership.
C)

is equally shared by parents and children within the family unit.
D)

is jointly owned by the extended family including grandparents and grandchildren.

ANSWER

B