Jennings High Asset Divorce Lawyer

Experienced Jennings High Asset Divorce Attorney

When you’re dealing with a divorce involving significant assets in Jefferson Parish, you need an experienced Jennings high asset divorce lawyer. They can help you sort through the financial details, from businesses and investments to real estate, retirement accounts, and debts.

About Us

For more than 35 years, Godley Law Firm has helped Louisiana families navigate difficult family law matters. We take a compassionate, personal approach, offering strong representation to help our clients work toward a resolution that fits their circumstances.

Understanding High-Asset Divorce in Louisiana

In Louisiana, the divorce rate in 2023 was 0.9 per 1,000 population. However, a high-asset divorce usually involves more than just dividing what’s sitting in a checking account. You might have property that was purchased at different times, investments that have grown over the years, or business interests that aren’t easy to put a price on.

Louisiana’s community-property system provides the starting point for figuring out what belongs to both spouses and what belongs to one spouse individually. That system includes:

• Community property. Generally, property acquired during the marriage through the efforts, skills, or industry of either spouse is considered community property under Civ. Code art. 2338.
• Separate property. Under Civ. Code art. 2341, separate property includes property owned by a spouse before the marriage, property acquired individually through inheritance or donation, and property that was acquired with separate funds when it can be proven.
• Mixed assets. An asset can have both separate and community components, which means tracing how it was acquired and funded can matter.
• Matrimonial agreements. Instead of automatically following Louisiana’s community-property rules, these agreements lay out how assets and debts should be managed and divided.

Because every high-asset divorce case involves different financial circumstances, working with our Jennings high-asset divorce attorneys can help you make informed decisions about your financial future.

Assets That Need to Be Addressed in a High-Asset Divorce

When a marriage involves substantial wealth, figuring out what’s actually at stake can take some digging. Before deciding how anything should be divided, it’s important to get a complete picture of the financial interests that could affect the outcome.

Our Jennings high-asset divorce attorneys can evaluate all:

• Businesses and professional practices. A company or professional practice might need to be valued, especially if its value grew during the marriage.
• Real estate. Vacation homes, rental properties, commercial buildings, and undeveloped land all become part of the property analysis.
• Investment accounts. Brokerage accounts and other investments might need to be traced to determine which portions are community or separate.
• Retirement accounts. Benefits earned during the marriage might need to be addressed when the marital estate is divided.
• Mineral interests. Royalties, leases, and other mineral-related interests can create additional property questions under Louisiana law.
• Stock options and equity compensation. Stock options, restricted stock, bonuses, and other forms of compensation all need to be considered.
• Trust interests. A spouse’s interest in a trust can raise questions about ownership, control, and whether the interest is community or separate property.
• Valuable personal property. Jewelry, artwork, collectibles, antiques, vehicles, and other high-value belongings need to be appraised and accounted for.
• Intellectual property. Patents, copyrights, trademarks, royalties, and other intellectual property require professional valuation.

Before anything gets divided, you need to know exactly what’s on the table. Our Jennings high-asset divorce attorneys can help you sort through your assets and financial interests while explaining how Louisiana’s high-asset divorce laws could apply to your case.

Why Detailed Financial Preparation Matters

When you’re dealing with a high-asset divorce case, having a clear picture of your finances is really important. Before negotiations get too far along:

• Make a complete list of all assets and debts.
• Gather records showing when major assets were acquired.
• Keep documentation that supports a claim that certain property is separate
• Get professional valuations when an asset’s value isn’t easy to determine
• Read through any proposed settlement carefully before signing it

A careful review of your finances gives you a clearer understanding of what you own and what you owe. Our Jennings high asset divorce attorneys can help you review the financial details, identify issues that might need closer attention, and work with you toward a property division that reflects your financial circumstances.

FAQs

Can a Spouse Request Exclusive Use of the Family Home During a Divorce?

Yes, a spouse can request exclusive use of the family home during a divorce. Louisiana law allows a spouse to request the use and occupancy of a family residence in certain circumstances. The court might consider the parties’ financial situations, the needs of any children, and whether the home is community property, separate property, or owned in another way.

Does Filing for Divorce Affect When Community Property Rules End?

Yes, filing for divorce can affect when community property rules end. Under Louisiana Civil Code art. 159, a divorce judgment can terminate the community property rule retroactively to the date that the divorce petition was filed. This means, depending on the circumstances, any property acquired after the divorce was filed might not be subject to division.

Can Property Bought in Another State Be Relevant in a Louisiana Divorce?

Yes, property bought in another state can be relevant in a Louisiana divorce, even if neither spouse ever lived in that state. The key questions are generally when the property was acquired, where the spouses lived at the time, how it was paid for, and whether it’s classified as community or separate property.

Can A Spouse Waive Property Rights in a Divorce Settlement?

Yes, a spouse can waive property rights in a divorce settlement by agreeing to give them up. A settlement can resolve disputes over specific types of assets, debts, or other financial issues. Before signing, it’s important to understand exactly what rights are being given up and whether the agreement addresses all of the relevant property and financial obligations.

Hire a High Asset Divorce Lawyer: Local Representation Offers an Advantage

If you need to hire a high asset divorce lawyer, it helps to have someone familiar with the court system where your case is being handled. At Godley Law Firm, we live and work in Jennings, and we’re ready to help you work through the financial and legal issues that come with a high-asset divorce.

Our team regularly practices in the 31st Judicial District, which means we understand the procedures, preferences, and arguments that can make a difference to the outcome of your case.

Contact us today to schedule a consultation.

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