Lafayette Property Division Lawyer

Lafayette Property Division Attorney

Louisiana is a community property law state. Absent an agreement between the parties such as a pre-nuptial agreement or post-nuptial agreement, all assets and liabilities acquired from the date of marriage until the date that the petition for divorce is filed is presumed to be community property. However, there are exceptions. One exception, for example, is an asset that was received by a spouse as a gift or inheritance during the marriage is presumed to be the separate property of the spouse who received the gift or inheritance.

In addition, any assets or liabilities obtained by a spouse before the marriage are that spouse’s separate property. A spouse’s separate property is generally not subject to division by a court in a divorce proceeding. To further understand Louisiana’s property division legal process as it relates to your divorce, consider hiring a Lafayette property division lawyer.

Community property cases can often become more complicated than what is described above. Our firm handles community property cases with care and with an innate desire to pay attention to detail. No one should go through this litigation alone, and Lafayette Family Attorney Josh Guillory and his staff are ready to fight for your right to an efficient and fair dissolution of your community property regime.

Understanding Community Property

It may be confusing to understand what community property is in relation to marriage. Community property relates to any assets that have been obtained during the marriage, such as:

• Real estate properties
• Vacation homes
• Vehicles
• Retirement and savings accounts
• Businesses

Debts incurred within the marriage are also included in community property. These can include:

• Credit card debt
• School loans
• Mortgages
• Personal loans

Once a divorce is underway, an attorney can help the couple determine how to evenly divide their community property. While it could be the case that each spouse receives half of the marital assets, it is not always possible. Every case is unique.

Understanding Separate Property

Separate property is any property that was owned before getting married. Anything that was inherited or given to you specifically, such as a birthday gift, should remain in your sole ownership. It’s important to identify separate property during the divorce process. Disputes may arise over which property is considered separate and which is community.

Lafayette Family Law Attorney Who Understands the Community Property Laws in Louisiana

If you are a party to a divorce proceeding, you may be uncertain how to protect your rights under the Louisiana’s community property laws and how the courts may divide property in a Louisiana divorce. You may have brought significant assets into the marriage or have acquired substantial wealth through gifts or inheritance during your marriage. You want to make certain that your ex-spouse does not unfairly take property that is rightfully yours. You need an experienced and aggressive Lafayette divorce attorney to protect your rights.

Contact our office today at (337) 233-1303 or click here to arrange a consultation to discuss the issue of community property and other family law matters.

• Divorce
• Child Custody
• Child Support & Spousal Support
• Adoptions
• Community Property
• Matrimonial Agreements
• Name Changes

FAQs

Q: How Is Separate Property Acquired in Louisiana?

A: Separate property can be acquired in multiple ways in Louisiana. A common way is for the property to be given as an inheritance. Separate property is also any gift given to one spouse before or after marriage. Any such gift received remains the sole property to whom it was given when the couple decides to divorce.

Q: What Is a Wife Entitled to in a Divorce in Louisiana?

A: A wife is entitled to many things in a divorce in Louisiana. Specifically, as the community property will be divided between spouses, she is entitled to half of the assets. She also may be required to take on half of the marital debts. In some cases, she may also be entitled to alimony or other financial assistance from her spouse.

Q: Is Louisiana a Community Property State for Divorce?

A: Yes, Louisiana is a community property state for divorce. Any property obtained throughout the marriage is considered community property, which consists of property, assets, and debts that are owned by both spouses. During the divorce process, all community property, debts, and assets will be, in most cases, divided equally amongst the two.

Q: Is an IRA Considered Community Property in Louisiana?

A: Yes, an IRA is considered community property in Louisiana if it was obtained during the marriage. Even when only one spouse has contributed to the account, both spouses have an interest in it. This is why it is classified as a marital asset. Each case, however, is unique and can become complicated in the divorce process or upon the owner of the IRA’s death. A Lafayette property division lawyer can be helpful in sorting through these situations.

Questions About Community Property

In addition to handling family law matters, Attorney Joshua S. Guillory is prepared to help individuals with a wide range of legal matters, such as criminal defense, estate planning to include wills and trusts, business law, and personal injury. Do not hesitate to contact The Law Office of Joshua S. Guillory, LLC at (337) 233-1303 or click here to send a message to our firm.

The Law Office of Joshua S. Guillory has guided many clients in Lafayette, Louisiana through the complexities of property division that can arise during a divorce. Contact The Law Office of Joshua S. Guillory to get started today.