New Orleans Divorce Lawyers
Community Property Partition (Division of Property)
Community property partition in Louisiana can be complicated and requires a knowledgeable family law attorney. New Orleans Divorce Attorney Camille Patti will explain the details of community property law, ensuring you understand what you are responsible for and entitled to in your divorce. She will then help you navigate the process in a way that ensures your property rights and interests are fully protected.
Community Property State
Louisiana is one of a few states in the U.S. that is a community property state. This means, generally, that all income earned by either spouse during a marriage, and the things bought with that income, are owned 50-50 by the spouses unless they have a pre or post-nuptial agreement opting out of the community property regime. Most debts acquired during a marriage are also shared equally by the spouses. However, some assets and some debts, even if obtained during a marriage, are still a spouse’s separate property.
In each case, it’s essential to consider all items, properties, and debts, as well as child custody and spousal support awards.
Community property includes:
- Money that either spouse has earned during the marriage
- Items bought with money that either spouse earned during marriage
- Separate property that has become mixed with community property, to the point that it can’t be identified as separate
When it comes to ensuring your marital assets are divided fairly in divorce, Camille is a trustworthy guide.
Division of Community Property
Lots of variables are considered when determining if an item, property, or debt should go to one spouse versus the other.
During a divorce, specific assets are assigned to each spouse, or assets can be sold, and the profit divided.
Opting out of a community property regime
Because Louisiana is a community property state, without a prenuptial or postnuptial agreement, all assets and debts a couple has at the end of a marriage are presumed to be community property or owned 50-50 by the divorcing couple.
If you enter your marriage with significant assets, one of these agreements can clearly identify what property belongs to you separately and allow you to opt out of the community property regime entirely.
If you have a prenuptial or postnuptial agreement and need help with division of property in your divorce, contact Camille for a consultation.
Contact Our New Orleans Divorce Attorneys For Help
For assistance with dividing marital assets in your divorce, contact New Orleans Divorce Lawyer Camille Patti. She is a trustworthy guide who will ensure you understand your rights and receive the best possible solution for your situation.
Get in touch now by calling 504.321.3364 or use our contact form.
