Louisiana is a community property state, which means that you will need to separate your property as equally as possible if you choose to divorce. This can be complicated if you have substantial assets or assets that aren’t necessarily liquid.
Marital property refers to any and all possessions that you obtained after your marriage. There are some exceptions, like property purchased with an independent inheritance, but on the whole, anything you buy during your marriage also belongs to your spouse. The good news is that Louisiana is fairly flexible with the terms of community property laws, giving you a better chance of getting what you should during divorce.
Can my separate property become community property?
Yes, it can if you’re not careful. If you have, for instance, a separate bank account but decide to get your spouse a debit card for it, then they could potentially show the court that it was also their marital funds.
If you don’t have a prenuptial agreement, almost anything you share between yourselves can be considered marital property, which could be bad for you if you have inheritances, separate accounts or assets that you wanted to keep separate. If you have assets you don’t want to accidentally have become marital assets, it’s a good idea to discuss your options with your attorney before sharing them with your spouse (and usually before marriage).
Our website has more on separate property, marital property and what you can expect if you’re going through a divorce in Louisiana. Your property can be split in a way that is equal while still protecting your interests.