The law has not kept up with the love and devotion that families have for their pets. In Louisiana and 47 other states, ownership of the dog or cat is decided as property division instead of custody. Couples, however, can deal with these outdated practices.
Before a couple gets married, they should engage in an unromantic but important conversation about their finances and explore whether they should enter into a prenuptial agreement. These agreements help prevent some of the major causes of divorce and protect their rights during property division, if their marriage ends in a divorce.
Have you worried for the last year or so that your marriage could end? Do you wonder if your spouse wants a divorce? People often keep themselves up at night, going over everything, trying to figure out exactly where they stand.
During a divorce, spouses usually concentrate on property division, child custody and support. However, like other life-altering events, it has important tax consequences requiring planning and impacting negotiations as well.
The new tax law recently enacted by Congress has changed financial planning for businesses and individual taxpayers. Its provisions may now require review of prenuptial agreements that govern property division and support for Louisiana couples. Tax changes may invalidate parts of prenups or surprise couples during divorce.