California is a community property state. What this means is that (generally) all property acquired by either spouse during the marriage is deemed to be jointly owned by both. Generally, if a life insurance policy has been purchased by one party using "community funds" (i.e., joint funds) during a marriage, it will be considered to be a community asset or community property in the case of divorce. Similarly, the surrender value of a life insurance policy purchased with community funds may be considered community property in California. If a life insurance policy is purchased prior to marriage using separate funds, the policy will generally be considered an individual asset and not community property.
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By The California Board Of Legal Specialization
