Skilled Louisiana Lawyers Handle Community Property Disputes
Accomplished law firm seeks smart resolutions for divorcing spouses in the Covington area
Louisiana is a community property state, which generally means that divorcing couples are required to split the net value of their marital property equally. It does not necessarily matter which party acquired the asset or earned the money to do so. However, there are many laws about what is classified as community property and what is classified separate property. Further, parties may have various reimbursement claims. At The Richards Law Firm, LLC, we provide the legal guidance you need to protect your rights and secure a fair property settlement in your divorce. With substantial experience, the firm's attorneys are strong advocates for clients on the Northshore of Lake Pontchartrain area and throughout greater New Orleans region during negotiations and in court.
Knowledgeable counselors advise on questions regarding marital property
At The Richards Law Firm, LLC, our lawyers give clients comprehensive information about the division of assets and debts in a divorce. In this jurisdiction, community property is designed to encompass almost any type of asset that is accumulated by a married couple. Items that can be considered community property include:
- Houses, cars, boats, clothing, furniture
- Bank accounts, stocks, life insurance that has cash value
- Businesses
- Copyrights, patents, trademarks
However, there are items that are not considered community property for the purposes of division following a divorce. These may include:
- Assets acquired before marriage — Community property law does not apply to inheritances and property acquired before the marriage and kept separate during the marriage — for example, funds from a trust that was left to you from your mother’s estate and that you kept in a separate bank account from your spouse throughout the entire duration of the marriage.
- Items covered by prenuptial agreements — Couples with prenuptial agreements can avoid community property division by setting forth their own terms in writing before marrying.
- Mixed community and separate property — commingling — It can be difficult to distinguish between community property and separate property. A common problem is with pension plans. If a pension plan or retirement account was started before the marriage and contributions continued to be made to it throughout the marriage or partnership, it is not straightforward to divide. The contributions made before marriage are considered separate property while those contributions made during the marriage are considered community property. We can advise you about how such matters are handled under Louisiana law.
The attorneys of The Richards Law Firm, LLC deliver strong counsel when issues arise relating to asset valuation and classification. We assert clients' rights no matter how complex or contentious the divorce might be. We work with forensic accountants and/or business valuation experts when indicated.
Contact an attorney experienced in Louisiana marital property law.
At The Richards Law Firm, LLC, we make it our business to get you through this trying time as smoothly as possible. Our experienced attorneys can help you with community property division following divorce in Louisiana. Call us at 985-302-3149 or contact us online for a consultation at our Covington office.
