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Financial matters during a divorce in Louisiana

On Behalf of | Jul 12, 2022 | Family Law |

Regardless of the circumstances, divorce will always be a challenging process in Louisiana. While there are many things to deal with, your finances are often an area of focus. It’s crucial to sort out your finances before and during your divorce to protect your needs as you move forward with your life.

Factors to keep in mind before filing for a divorce

Before filing for a divorce in Louisiana, you should review your records to see if you signed any marital agreements while tying the knot. The court will likely honor your prenuptial or postnuptial agreement when dividing your assets and debts. Ensure to check if your agreements are valid and if you abided by them throughout your marriage to avoid nullification.

You may also want to gather all your other financial documents like tax returns, pay stubs, bank statements and credit card statements. This will help determine your financial status and what you’re entitled to during the divorce process.

Finally, take a look at your overall financial stability before filing for divorce. See if you can support yourself financially and maintain the same lifestyle once your divorce is finalized. If not, you have the right to ask for adequate maintenance.

Factors to consider during divorce

The first one is alimony or spousal support. You may not always receive or give alimony in Louisiana. The court will consider your income, earning potential, and the length of your marriage to see if you are eligible.

If you have children, you should also look into child support. Regardless of your issues, your children need appropriate resources to grow and achieve their dreams.

You must also decide how to divide your assets and debts during divorce. Louisiana is a community state, so your spouse is entitled to half of everything you earned since you officiated your union.

Remember, you can solve all your issues out of court through processes like mediation and arbitration. All you’ll need is to have a Louisiana judge notarize your agreements to make them official.