A Community Property Agreement is a specifically statutorily created agreement that spouses may enter into after marriage which converts separate property of either spouse into community property. It is different than a Prenuptial Agreement in that it is entered into after marriage, whereas a Prenuptial Agreement is entered into in anticipation of marriage. There are specific procedural requirements regarding the validity of a Community Property Agreement that need to be followed to be enforceable in Washington state.
Many people use Community Property Agreements as Estate Planning devices to avoid probate. A community property agreement may also affect how a court characterizes property in a divorce, and therefore may have specific ramifications in determining division of property as the characterization of property usually impacts the division thereto.
