Eric S. Neumann, APLC
Family law attorney serving clients in Lafayette and throughout Acadiana
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Posts tagged "Property Division"

Unique issues with divorcing in elder years

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.

Jeff Bezos did not have a prenup and it may be costly

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.

Prenups are good insurance for Louisianans in second marriages

Louisiana spouses in a second marriage can benefit from the lessons they learned from their first divorce. A prenuptial agreement can incorporate this experience and serve as an insurance policy to help resolve property division and other issues if the second marriage fails. This is especially true for couples over 50-years-old.

Pre-marriage finances

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.

Know the difference between separate and marital property

Louisiana recognizes community property rights for married people, which means, generally speaking, that all of the property that people acquire after they have wed their spouses is considered equally owned by both of the partners to the marriage. Marital property is property that is owned by both individuals in a marriage and is subject to property division if they divorce.

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