Louisiana typically defaults to a 50/50 split of marital property because it’s a community property state. There are a few exceptions to a 50/50 division.
Prenuptial or postnuptial agreement
The court approves most prenuptial and postnuptial agreements. A prenuptial agreement is one that you sign before marriage to determine how you and your spouse will divide property if you divorce. Postnuptial agreements occur after marriage.
Property before the marriage
All property that you owned before marriage is generally separate property, with the exception of any appreciation during the marriage. Such appreciation would be deemed community property.
Exceptions to marital property
Your inheritance is separate property, even if you received it during the marriage, unless it was commingled with marital property. Gifts that you receive are also separate property. Louisiana family law also states that a spouse who mishandles marital property is solely responsible for the damages. This helps protect you against a potentially irresponsible or vindictive spouse.
Methods for property division
You and your spouse could sell your assets and split the money. If you want to keep certain assets, you could find a way of distributing different assets in a way that’s 50/50. Another acceptable method of dividing property is for one spouse to buy out the other. If you have a business that your heart is set on keeping, you could buy out what portion of the business would go to your spouse. When it comes to dividing a business in divorce, you might not have to do so, depending on your situation. If your spouse wasn’t involved in the business that you owned prior to the marriage, then it could be your separate property.