When you're dividing your property, you have to think of all your assets. It's not enough to think that you have everything but to be unsure. If you don't disclose assets during your divorce, you could get into deep trouble. If you forget to look for certain assets, you could miss out on claiming your shared portion.
When you're working through your property division arrangements or community property partitions as it is called in Louisiana, it can be hard to know what you want to give up. Louisiana is one of a few states that recognizes community property laws, which require an equal split of marital property upon divorce.
Louisiana is a community property state, which means that all community property is split evenly upon divorce. If you are wealthy and have many assets, this can be a good thing, because you and your spouse split your assets fairly and move on. If you're struggling with massive debts, however, this can be extremely frustrating.
Property division is an important part of the divorce process. You want to be fair with each other, and although Louisiana is a community property state, you'll still have many opportunities to split your assets fairly.
Louisiana's laws respect that marriages are built on the backs of two adults. That means that all they do supports the other person and that they share in their responsibilities. As a result, when two people in a committed relationship divorce, they are expected to divide their marital property fairly and evenly.
When you look at everything that you've accrued during your marriage, it might be frightening to think about losing any of it in divorce. The reality is that divorces do mean that you'll likely end up with less than you have in your marriage, but that's with the trade-off that you'll be single and able to do what you'd like in your own life.