New Orleans Family Law Blog

Cryptocurrencies like Bitcoin have become extremely popular among investors in Louisiana and around the country because they offer the promise of robust returns and operate outside the sphere of government regulators. However, the qualities that make them an attractive addition to investment portfolios can be a major challenge to divorcing spouses and the attorneys representing them. Placing a value on these volatile assets can be difficult during property division negotiations, and the privacy offered by Bitcoin and its competitors have made these alternative currencies a popular way for high-net-worth individuals to conceal funds.

The value of marital assets are generally set based on what they were worth when divorce papers were initially filed, but legal and financial advisers say that a different approach should be taken with cryptocurrencies because their value fluctuates so much. Between November 2016 and February 2017, Bitcoin prices surged by more than 1,200 percent and then fell by 40 percent. To address this problem, experts suggest waiting until assets are distributed to set the value of cryptocurrencies.

For many Louisiana residents, moving through a divorce requires a lengthy checklist of to-do items, many of which can be tedious. The divorce process can feel overwhelming, and it is not uncommon for spouses to forget to address various issues that relate to their divorce. When it comes to life insurance, however, it is very important for spouses to make the appropriate changes to ensure that their final wishes are adhered to.

Failing to change one's beneficiary designation can have serious repercussions to loved ones who are left behind. Many states have laws that dictate how a life insurance policy will be handled in the event of a divorce. However, these laws can change over time, or a move could place an estate in a different jurisdiction with vastly different laws. That is why it is critical to make and desired alterations during or shortly after the divorce process.

When Louisiana parents are faced with a challenge to their parental rights, there are no words that can properly describe the stress and anxiety that follows. When the state acts to remove a child from his or her home, the parents are often at a distinct disadvantage. States have a number of tools at their disposal in these cases, including attorneys, social workers, guardian ad litems and individuals tasked with making child custody evaluations. Parents are allowed the right to an attorney, but many do not have the resources to match those that the state can gather. This can lead to controversial and distressing child custody outcomes, including a recent case in which children may have been wrongly placed in harm's way by state authorities.

The case centers on a family in which the man and woman have a history of domestic violence. Their 5-year-old twins and an older child belonging to the mother were removed from the home, based on the court's belief that there were issues of neglect and that the children were witnesses to acts of domestic violence. The children were placed into a foster home.

For many Louisiana residents, the division of retirement assets is a primary focus during the property division process. In fact, there are many families in which retirement savings comprise the bulk of marital wealth. Getting things right during the division of these assets is important, and should be a priority. To that end, it is important to carefully review the QDRO to ensure that there are no costly errors or omissions present.

A QDRO stands for Qualified Domestic Relations Order. This is the document that dictates how retirement assets are to be divided between parties to a divorce. Aside from getting the basic math correct, a QDRO must also carefully adhere to the requirements of each specific retirement plan.