Covington Divorce Attorneys Explain Division of Property in Louisiana
Metairie family lawyers help clients keep property in a divorce
Louisiana law provides a relatively clear picture of how property should be divided in a divorce. In the real world, however, situations can get much more complicated. At Michael D. Conroy, PLC, our focus is on making sure our clients understand their rights and then carefully planning a strategy to help our clients get the property they want or need in a divorce. We represent clients in divorce cases throughout Southeast Louisiana from our offices in Covington and Metairie.
Louisiana is a community property state
The general rule in Louisiana is that all property acquired during the marriage belongs equally to both parties. This property is known as “marital property” or “community property.” Courts try to evenly split community property during a divorce, but it is possible to negotiate with your former spouse or argue in court about why you should be able to keep a particular piece of property. When the parties in a divorce cannot agree on how to divide marital property, the court will make these decisions with the intent of treating the parties equally. Whether your goal is to keep your house or force its sale, our attorneys are dedicated to getting your results.
Not all property is considered community property in a marriage. Property that the parties brought with them into the marriage is often considered “separate property,” as are gifts or inheritances. Any income earned from separate property during the course of the marriage usually becomes community property, but a prenuptial agreement (matrimonial agreement) entered into before marriage can specify different rules. Separate assets do not get divided, as they already belong to one of the parties. We help clients prove that their assets should be considered separate property.
Helping clients keep their homes in divorce
During a divorce, each spouse has an equal right to manage marital property, including homes. Often, one or both spouses want to keep their Covington or Metairie-area home. The parties will come to an agreement that allows one of them to keep the home in exchange for other property. Alternatively, they can choose to sell the property and divide the proceeds. The same rules apply for cars and other marital assets. Our family law attorneys work to ease the financial burdens associated with divorce, keeping you in your home when possible.
Dealing with the division of retirement accounts in a Louisiana divorce
Financial assets can be more complicated than just money and real estate. In some cases, retirement accounts and other special financial instruments exist. In these cases, our attorneys can work to get a Qualified Domestic Relations Order (QDRO) signed by a judge to provide benefits to the nonemployee spouse.
Video: How is Property Divided in Divorce?
Trust our highly responsive firm to help you keep your property in a divorce
At Michael D. Conroy, PLC, we have a strong reputation in the community. Throughout Jefferson, St. Tammany and Orleans Parishes, we are known as established family law attorneys who care about our clients. When you are going through a divorce, trust us to help you get results. Call us now at 985-606-3885 or contact us online to speak to an experienced attorney. We represent clients in courts on both the North Shore and the South Shore.