Divorce,Lawyer,Considers,Louis law Divorce Lawyer Considers Louisianas Community Property Laws
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In order to protect yourselfafter your marriage has failed and you are on the verge of contacting a divorcelawyer, there are some very important things you need to know. While this blogis not a substitute for legal advice or legal representation, it is an educationalfoundation with which you can familiarize yourself. Most spouses do not know Louisiana is acommunity property state. No, it doesnt mean Louisiana is a communist state!What it does mean is that from the moment of commencement of marriage, a communityproperty regime may have concurrently commenced. This means everything acquiredduring marriage may belong to both the husband and wife.In the State of Louisiana, we goeven a step further: things in a spouses possession during the existence ofcommunity property are presumed to be community property. So for example, evenif wife withdraws $500 from a joint account to buy a Mardi Gras gown forherself, the gown will be considered community property. Why is this? Louisianahas adopted the principle of real subrogation. This means if community propertyis converted into another thing, the other thing remains community property.The same is true for separateproperty. Separate property is considered property acquired before the marriageand also for property acquired after the marriage through separate propertysubrogation. So for example, dad opens up a savings account for daughter beforeshe gets married. After she gets married, she withdraws $500 from that sameaccount to buy a Mardi Gras Gown. Because, the $500 was given to her before thecommunity property regime commenced, the $500 is separate property thus makingthe gown her separate property.However, a divorce lawyer willprobably inform you that things can change when we talk about revenues ofseparate property. Although a thing maybe separate property, the revenuegenerated from that separate property is presumed community property during acommunity property regime. For example, dad buys daughter a house before shegets married. Since daughter acquired the house before marriage, the house isher separate property. Daughter gets married and chooses to rent out her housegiven to her by her father. During the community property regime, the rentgenerated on her separate house is considered community property. However,daughter can protect herself by filing a Declaration of Paraphernality, whichdeclares the revenues of her separate property also separate property. This declaration can make things easier onyour divorce lawyer.When filing such on an immovableproperty, it must be filed in the conveyance records of the parish where theimmovable is situated. If a spouse wins money at a casino, the winnings arepresumed community property. If the spouse uses separate funds to win money,the separate funds remain separate property, but everything above the separateamount is presumed community property. For example, wife withdraws $500 fromseparate account and brings it to the casino. She places that $500 on theroulette table and wins an additional $500 for a total of $1000. The $500winnings are presumed community property. The last topic we will cover incommunity property is earnings. Property acquired through the skill and effortof a spouse is community property if expended during the community propertyregime. For example, if wife is a real estate agent and earns 5% commission oneach real estate sale, the 5% earned is community property since it wasacquired through the skill and effort of a spouse during a community propertyregime. So if wife makes $100,000 a month and husband is a stay-at-home couchpotato, the $100,000 wife earns a month is nevertheless community property.The above article isinformational. It is not professionallegal advice, so please do not view it as such. Will Beaumont is an attorney and is only licensed in Louisiana. He has an office in New Orleans and has anoffice in Metairie.
Divorce,Lawyer,Considers,Louis