The end of a marriage can be a wrenching emotional experience, but the process of divorce itself is largely concerned with money. The biggest, most time-consuming and technically challenging part of many divorces is figuring out how to divide the marital property.
One of the major issues in any divorce is the division of the couple's property. Many states specify that property must be divided "fairly and equitably" between the divorcing spouses. This rule gives judges great discretion in deciding how the couple's property should be distributed in the event of a divorce.
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.