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In probably the most important family law decision this year, In re Marriage of Valli, 58 Cal. 4th 1396 (2014), the state Supreme Court held that a life insurance policy purchased by husband from a third party with community property funds and titled (at husband¿s direction) in wife¿s sole name as both owner and beneficia- ry, is a community property asset and not wife¿s separate property.

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