When couples get divorced, they not only have to face a complex legal and emotional matter, but also a financial one. As you may know, Louisiana is a community property state, which means that in most cases, marital property will be distributed 50/50 between each spouse. For this reason, you need a competent Monroe property division lawyer in your corner who can fight for the assets that mean the most to you. Contact Breithaupt, DuBos & Wolleson today to learn more about how property division works in Louisiana and how our firm can help.
Property Division Lawyer | Serving Clients throughout Louisiana
Our legal team has helped countless people through the divorce process in the past, and we’re here to help you, too. We understand how much is at stake, and we’re here to fight for your future.
Marital Property Vs. Separate Property in Louisiana
Simply put, marital property includes most assets acquired by either spouse over the course of a marriage, while separate property includes property acquired prior to or outside of marriage. Typically, marital property is subject to distribution between both spouses, while separate property is not.
Common Examples of Separate Property
There are several types of property that are generally considered separate property in a divorce. They are as follows:
- Gifts from people other than your spouse
- Certain property acquired prior to marriage
- Property acquired after separation
- Income generated by, or received from, separate property
You should note, however, that in some cases, separate property may technically become marital property. For example, if one spouse gains an inheritance, though he or she then puts that inheritance into a jointly-held bank account, it may then be treated as marital property when the couple gets divorced.
Common Examples of Marital Property
Marital property typically makes up the majority of a couple’s assets, as it can include the following:
- Their home
- Multiple properties, such as vacation homes
- Retirement accounts
- Assets held in bank accounts
Protecting Property from a Divorce
You should note that by drafting a prenuptial agreement before marriage, you can outline exactly what you wish to happen with both marital and nonmarital assets, should you ever get divorced. You should also note that even if you are already married and have not created a prenuptial agreement, you may still draft a postnuptial agreement, which serves the same basic purpose. If you’d like to draft such an agreement, you should consider speaking with a knowledgeable Monroe, Louisiana prenuptial agreement lawyer from our firm.
Contact a Louisiana Property Division Lawyer
For years, our legal team has fought on behalf of countless individuals who are looking to protect what is rightfully theirs, and we are here to do the same for you. Contact a property division lawyer from Breithaupt, DuBos & Wolleson today to schedule your initial consultation with our firm.