When it comes to property and divorce in the state of Louisiana, it’s essential to understand what qualifies as separate property. Separate property refers to an asset that one spouse owns individually, and the other spouse doesn’t have a claim to it. In a divorce, these assets are not subject to division in the same way as those considered marital property. It’s crucial to understand the differences between the two types of assets to ensure a fair and equitable divorce settlement. In this article, we’ll explore what qualifies as separate property in Louisiana.
What is Separate Property?
Separate property in Louisiana refers to assets that one spouse owns individually before getting married or after getting married through inheritance or gift. The spouse who receives these assets keeps them separate from the rest of the marital estate.
Pre-Marital Assets
In Louisiana, any assets acquired before the marriage are generally considered separate property, even if they’ve increased in value during the marriage. That means if you owned a piece of property worth $50,000 before you got married and it’s now worth $100,000, the $50,000 increase in value is still considered separate property. However, there may be cases where separate property can become marital property over time, such as using separate property to improve marital property or using marital funds to maintain separate property.
Inheritance
Another type of separate property in Louisiana is assets that are inherited during the marriage. If you inherited money or property from a relative while you were married, it’s generally considered separate property. However, if you comingled the inheritance with marital property, it may lose its separate property status.
Gifts
Gifts to an individual spouse, such as a piece of jewelry or a vehicle, are also considered separate property in Louisiana. However, if the gift is used for the benefit of the marriage, it may lose its separate status.
Communal Ownership
In Louisiana, there is also something called "community property." Property acquired during the marriage is considered community property in Louisiana. This means that each spouse has a one-half ownership interest in all marital assets regardless of who acquired the property or whose name is on the title. Community property includes not only wages earned during the marriage but also property purchases made during the marriage.
Separate vs. Community Property
There may be cases where separate property and community property become mixed. These cases can be complicated, and it’s essential to get legal advice from a competent Louisiana family law attorney. Generally, if the separate property becomes commingled with community property, it may lose its separate property status, and it could become marital property.
Conclusion
Divorce and property division can be a very complex and stressful process. Having an understanding of what qualifies as separate property in Louisiana can help ensure you are receiving a fair and just settlement in your divorce. It’s best to consult with an experienced family law attorney who can provide guidance and assistance during this difficult time.