Property Division Lawyers in New Orleans, Jefferson Parish and Surrounding Parishes in Louisiana
Stephen Rue twice has been voted the “BEST DIVORCE LAWYER” in New Orleans by Gambit weekly Readers Poll (2002 and 2003). In 2012, Stephen Rue was voted “BEST ATTORNEY” by Gambit weekly’s Best of New Orleans Readers Poll.
Thankful for his service!
Stephen is a wonderful attorney. With his knowledge and formidable presence in the courts any client would feel well protected! I would refer any family or friend to him.
If you are getting a divorce, we can ensure that your property rights and interests are fully protected.
An important consideration at the end of your marriage is the division of your marital assets. Louisiana is a community property state. This means that spouses generally share equally in the assets, income and debt acquired by either spouse during the marriage. However, some income and some property may be separate income or separate property. Characterization of marital property as separate or community can be complicated. You need the services of an experienced community property partition lawyer to help you. Additionally, it is important that a trained professional assist you in insuring you receive an equal share of the assets acquired during the marriage.
At Stephen Rue & Associates Law Firm, our New Orleans, Jefferson PArish and Surrounding Louisiana Parishes Property Division Attorneys have extensive training and experience in resolving complex property division issues and drafting divorce settlement agreements. If you are getting a divorce, we can ensure that your property rights and interests are fully protected.
St. Tammany Parish Attorneys Help You Divide Your Marital Assets
The system of principles and rules governing the ownership and management of the property of married persons is called a matrimonial regime. In Louisiana, when persons marry they enter into a community property regime by law, unless they contract otherwise, such as by a prenuptial agreement. Thus, the vast majority of Louisiana marriages are subject to a community property regime.
When spouses divorce, the community property regime terminates and the parties must divide the assets and liabilities of the marriage. The assets and liabilities of the marriage are generally classified as community or separate. The rules to classify marital assets can be highly technical and complex.
Assets to consider in a community property partition include:
- Bank accounts
- Retirement accounts
- Investment accounts
- Real estate
- Rental or other investment property
- Insurance Policies
- Oil and Gas Royalties or Interests
- Home furnishings and other movable property
Debts that often need to be divided in a community property partition include:
- Credit Cards
- Unsecured notes and loans
- Auto Loans
In addition to dividing assets and liabilities, either spouse may have claims against the other for reimbursement for expenses of the marriage.
Such reimbursements may include may include:
- Payment of the mortgage
- Use of community funds for personal benefit
You need a lawyer who understands these complex rules and concepts in order to make sure you get your fair share of the community. The experienced attorneys atStephen Rue & Associates Law Firm will help protect your interests when the community property of the marriage is divided.
At Stephen Rue & Associates Law Firm, we offer consultations so you can discuss your divorce case with one of our experienced attorneys.
The following is an excerpt from Louisiana Divorce Handbook (Available on Amazon.com), with Express Permission of Author Louisiana Family Law Attorney Stephen Rue. @ All Rights Reserved, Stephen Rue 2014.
1. RECAP ON CHAPTER 5
You have already taken advantage of the tips provided in the chapter encouraging you to “GET POSSESSION OF CHILDREN AND PROPERTY”
Always remember the importance of getting possession of the following:
2. PROPERTY AND SENTIMENTAL ITEMS
5. THE HOUSE/APARTMENT/FURNISHINGS
6. INVENTORY EVERYTHING
7. FINANCIAL RECORDS
8. INFORMATION FROM COMPUTERS
9. VIDEOTAPE AND/OR PHOTOGRAPH YOUR RESIDENCE
10. FILE EX PARTE MOTIONS
2. BEFORE YOU GET DIVORCED,
SPEAK WITH YOUR ATTORNEY ABOUT DIVIDING THE COMMUNITY ASSETS AND DEBTS
Quite often individuals postpone resolving the division of marital property until after the divorce. Many people who get divorced feel a huge burden off of their backs after the final divorce judgment is rendered. For many reasons, some financial and some emotional, litigants frequently stop the litigation between their now former spouse without formally dividing up and community property assets and debts. Consult your attorney as to the pros and cons of pursuing a partition of the community property. A failure to divide the assets and debts may cause problems in the future regarding valuations, potential reimbursements for use, loss or destruction of items, commingled separate and community debts, subsequent marriage property rights, and inheritance rights.