If you’ve decided that you want to get a divorce from your spouse, you need to understand Louisiana’s property laws. The division of your property is an important step in your divorce, but if you don’t consider your property carefully, you could find yourself in a difficult position later.
When you’re dealing with property division, you need to think to the future. Louisiana is a community property state, which means that all marital property is considered to be owned equally. If you don’t want to split your assets 50-50, it’s time to focus on creating a settlement with your spouse.
Does Louisiana require a 50-50 split of your assets?
While it is a community property state, Louisiana is a flexible state as well. Usually, property you buy while married becomes your marital property. You and your spouse both own it. However, there are some circumstances where property remains separately, like if you owned it before you were married or if you bought it with an inheritance. Gifts received during marriage are also considered separate property in most instances.
If you don’t agree with the community property arrangements, then you and your spouse can work out your own property division agreement. For instance, if you worked but your spouse did not, you may want to have a 75-25 split of your assets or have another arrangement in mind. If you can both agree and create your own agreement, the judge may approve it instead.
Dividing your property may be difficult depending on your circumstances, but with patience, it’s possible to come to an agreement you are happy with.
Source: FindLaw, “Louisiana Marital Property Laws,” accessed Feb. 07, 2018