Property division is one of the most contested issues in many divorce cases.
Louisiana is a community property state, which means that marital property and debt is divided 50-50, absent a prenuptial agreement. Although that sounds pretty straightforward, parties to a divorce often disagree on who should get what.
To help make sure that you get what you are entitled to during your divorce, you will need to work with an experienced attorney who can represent your rights and interests.
Cases involving assets such as retirement accounts, family businesses and hidden assets can be especially complex and contested. In some situations, it may be necessary to call in financial experts to determine the value of property or uncover assets that the other spouse may be trying to hide.
When parties cannot reach a community property settlement agreement, they have the option of turning to a mediator for help. During the mediation process, the third-party neutral mediator helps the parties work toward reaching a settlement.
Even if a community property settlement agreement is reached, keep in mind that it still has to be approved by the court, which is another reason to be represented by a lawyer who can draft a legally-sound agreement.
If the parties still cannot reach an agreement, they may need to court to intervene. While very few divorce cases actually go to trial, the process involves both parties telling the court why they should get a certain share of the assets based on evidence.
Again, this is not a process that you will want to go through without a skilled attorney by your side who has been through it many times in the past.
Ultimately, there is no easy formula that tells a couple who should get what in their divorce. Instead, it involves the long process of identifying and placing a value on all marital assets and then dividing the property in a fair and equitable manner.