There are two answers to this question: you can decide how your assets are divided, or the court can decide for you.
Under Louisiana law, the court presumes that any assets or debts accrued during your marriage (a house, car, graduate school loans) belong equally (50/50) to both spouses, regardless of who actually purchased the item or whose name is on the title. This is of course unless you and your spouse executed a matrimonial agreement – often referred to as a prenup.
Non-marital property (property acquired by one spouse prior to the marriage) is not subject to 50/50 division.
Keep reading to learn more about Louisiana laws pertaining to asset division in divorce. At The Johnson Firm, we’re here to provide resources and advice for all clients. If you’re going through a divorce, trust us to represent your interests and get you the best possible outcome.
Call (337) 433-1414 today.
Louisiana is a community property state. The other community property states are Arizona, California, Idaho, Nevada, New Mexico, Texas, Washington, and Wisconsin.
Community property means almost anything accrued during the marriage is subject to equal (50/50) asset division in divorce. These are some of the most common examples of assets considered community property:
In Louisiana, only the property or assets acquired during the marriage will be subject to division. That means property acquired by either spouse before the marriage is exempt from division.
A common complication in Louisiana property division cases is what is what some refer to as “partial” community property. What this really means is property that is either community or separate property but requires additional accounting for reimbursements owed to either spouse. This could occur when one party owns a home prior to the marriage, but the couple makes payments on the home during their marriage.
Another important aspect of property division in Louisiana is that the law does not require the court to consider non-monetary contributions when determining appropriate property division. Examples of non-monetary contributions include childcare, chores, upkeep, and related tasks.
It’s important to understand that you don’t have to go before a judge for asset division in divorce. It’s almost always more painless to have an attorney help you and your ex to reach an agreement instead of taking the matter to court.
However, whatever you decide, an experienced attorney from The Johnson Firm will make sure your interests are represented and will fight to get everything you deserve.