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I am getting a divorce in LA and was married in Las Vegas…

I am getting a...

I am getting a divorce in LA and was married in Las Vegas Nevada 8 years ago what are the financial ramification

Lawyer's Assistant: Because family law varies from place to place, can you tell me what state this is in?

LA

Lawyer's Assistant: Has anything been filed or reported?

No

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

We have 3 properties 2 in Louisiana an one in Montreal

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Answered in 5 hours by:
3/11/2018
RayAnswers
RayAnswers, Lawyer
Category: Family Law
Satisfied Customers: 48,266
Experience: 30 years as a family law lawyer .
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Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.

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Here you can either resolve it by settlement agreement or have court order them all sold and divide the proceeds.Louisiana is a community property 50-50% state here property and debt wise.

Reference

https://www.divorcenet.com/resources/divorce/marital-property-division/louisiana-divorce-dividing-pro

In Louisiana the courts generally accept a fair and reasonable property division the parties agree to, but if the parties cannot agree, the Louisiana District Court divides the property within the Judgment of Divorce. The best outcome is one where the spouses agree to an equitable division of their property.Louisiana is a Community Property state. Community property is all property and debt acquired from the date of marriage until the marital cut-off date. Unless the parties entered into a prenuptial agreement, the spouses own equally everything they acquired during the marriage.

Community property is property acquired during the marriage through the effort of either spouse, such as wages and employee benefit plans, property donated to the spouses jointly, and other property not classified as separate. Property owned before marriage, individual gifts during marriage and inherited property are separate property and not subject to division.

When the spouses cannot agree, the court determines values and then divides all assets and liabilities so each spouse receives one-half of the net value of the estate.

Factors in Equitable Distribution

All separate property like gifts, inheritances, and property owned prior to the marriage remains with each spouse; all other property is divided equally.

The court considers the needs of each spouse in dividing the property. Each spouse may ask the court for the marital home. Typically, the courts award the house to the spouse who has custody of the children. When making this decision regarding the marital home, the court considers:

  • the value of the spouses property;
  • the economic needs and circumstances of each spouse;
  • the needs of the children; and
  • on a case-by-case basis the contributions each spouse made to the acquisition of the community property as well as future earning potential.

Absent extraordinary economic circumstances, the conduct of the parties has no effect on the division of property.

The length of the marriage has no impact on the division of the community property. Of course, if a couple is only married for a short time, the amount of community property will be much less, since property owned by either spouse before marriage is considered separate property.

I appreciate the chance to help you again.Thanks

If you can positive rate 5 stars it is much appreciated.

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