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Community Property
Louisiana is one of a few community property states. During a divorce of spouses in Louisiana, the court will divide property and debts as equally as they can. Community property rules can be complex and complicated, so it is important that you seek legal help from an experienced family law attorney. A family law attorney will be able to help you identify which of your assets are considered community property and fight to ensure you get your share of the assets.
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How is community property divided in a divorce?
Spouses that are going through a divorce in Louisiana are given the opportunity to decide how they want to divide their property and debts through a settlement agreement. If they are unable to do this on their own, a judge can determine how the property should be divided. Under Louisiana law, all assets and debts acquired during marriage belongs to both spouses equally.There are several factors that must be considered when determining how the property will be divided:
- Each spouse’s finances
- Each spouse’s age
- Each spouse’s physical & mental health
- The source & nature of the property
- Child custody
- Alimony
There are three steps to the property division process:
- Identify whether the property is community or separate
- Obtain valuations for community property
- Decide how to divide the community property
What is considered community property in Louisiana?
Assets that are considered community property include:
- Real estate and rental properties
- Income earned by each spouse during the marriage
- Retirement and pensions
- Bank accounts
- Insurance policies
- Trusts
- Vehicles
- And more
Contact a Louisiana Family Law Attorney
If you are going through a divorce and there are assets between you and your former spouse that need to be divided, we can help. Our divorce attorneys at Rozas can represent you, help to identify and value your property, and determine how the assets should be divided. If you’re unable to come to an agreement with your spouse, a judge will split the assets evenly with no regard to who earned those assets. It is important that you know and understand the importance of hiring an experienced attorney to help you. Contact our firm today to schedule a consultation.
Visit our contact page to submit a form to our law firm to schedule a consultation with an experienced attorney to handle your criminal defense, immigration, or family law needs. English and Spanish-speaking representation is available.
