Community Property
Community and Separate Property in Louisiana
In Louisiana, property and assets acquired during the marriage are typically considered community property and are subject to partition (or division) upon divorce. Davidson will assist in accurately identifying and valuing marital assets and debts. Davidson may negotiate a fair division of property, ensuring that you receive your entitled share and that any division is equitable under Louisiana law.
Separate property belongs to one spouse, usually because this was acquired before the marriage occurred. For example, if you buy a car before getting married, the vehicle will generally be characterized as separate property. Separate property can also be created if you are gifted or inherit property during the marriage. However, property acquired before the marriage can become community property if separate property is commingled.
Frequently Asked Questions
What is community property?
What happens if community property and separate property are comingled?
Is a gift from a spouse separate property?
May spouses request reimbursements?
How does a spouse prove the property is separate?
What happens to my retirement account in a divorce
Retirement accounts often require an analysis because even if the plan was obtained before the marriage, the portion contributed, and the interest accrued can still be considered community property. If you or your spouse owned retirement accounts before getting married, there might be claims on the value of the contributions made as well as the interest accrued during the marriage. A simplified way of thinking about it is, you will need to determine the value of the plan at the time of the marriage and subtract it from the plan’s value at the time of the divorce. The community estate would have a claim for this portion of the account. In most cases, a Qualified Domestic Relations Order is required. However, it’s not always that simple. Davidson can help you understand how to partition a retirement account.
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