In a divorce case in Louisiana, many spouses worry about being treated fairly in the division of property process. Louisiana is a community property state, in which joint marital assets must be evenly divided, but many spouses take steps to conceal assets from the other spouse and thereby attempt to avoid having the court include these assets in the inventory of community property. This tactic is plainly illegal, but more than a few people have believed that they could outwit the system.
One of the least favorite, and most questioned, topics of the divorce process often centers around the topic of property division. Property division is the portion of the divorce process in which a married couple's assets and liabilities are divided fair and equitably. How is this done? Each couple's property division will be specifically tailored to their situation, financially and personally.
The process of going through a divorce can bring up a lot of questions for those involved. This can include the division of assets, such as savings accounts, 401k, property and anything else that is considered marital property. It can also mean finding a parenting plan that works for the divorcing couple and any children they may have.
The number of couples under 50-years-old who are ending their marriages have leveled off over recent years. However, the divorce rate for spouses over the age of 50 has more than doubled since 1994. Unique issues are present in any given "grey" divorce, especially with property division and what these couples face after their marriages end.
Amazon's billionaire CEO Jeff Bezos and his wife recently announced their divorce and it may be very costly. Their state of residence is Washington which, like Louisiana, is a community property state where the couple equally splits any assets earned during their marriage. Because he did not have a prenuptial agreement, property division may cost Bezos half of his $136 billion fortune.