When it comes to asset division during a divorce, states take different approaches. In some states, the goal is an equitable or “fair” division of assets. This means that it may not be equal, but the court will consider various factors to determine what they think is fair. Someone with a greater financial need may receive a greater portion of assets, for instance, or assets that were earned by one spouse may be divided unevenly.
Louisiana, however, is a community property state. The same is true in a few other states, such as California, although they are in the minority. How is this different?
Focusing on an equal split
Essentially, a community property state sees all of the assets that a couple earns, acquires and owns as belonging to both of them jointly. As such, when they go through property division, the court tries to set up an equal split. The goal is to get things to be roughly 50-50 between the couple, as they both are seen to have 50% ownership rights.
That said, it is still important to consider the difference between marital and separate property. Some types of property, such as an inheritance that was directly gifted to only one person by their parents, may still count as separate property. This means that it does not have to go through property division at all and will not be split.
Your rights during a divorce
It’s very important to understand how community property laws work in Louisiana and what rights you have. Be sure you carefully consider your legal options as you work through this process.