Most things acquired during your marriage are considered "community property" or jointly-owned. That includes most gifts, purchases, and accounts obtained during your marriage. Upon divorce, each party is entitled half of the value. What About Community Debts? Just as assets are to be split, any debt acquired during the marriage is also split 50-50. Both sides are thus responsible for all debt, instead of placing the burden on just one party. Are There Any Exceptions? Yes! There are exceptions in every community property division and divorce situation. At the Law Offices of Nathan G. Frazier, we take the time to explain community property, marital assets and marital rights to property so that you can understand what you may or may not be able to retain or obtain. This is why it is important to have an attorney on your side who can negotiate on your behalf to make sure that you never get the "short end of the stick." To learn more about divorce, separation, child support or child custody matters, call 337-981-3577 today. The law office of Nathan G. Frazier is located in Lafayette, Louisiana and provides legal representation to clients throughout Louisiana, including the cities of Lafayette, Abbeville, Breaux Bridge, Church Point, Crowley, Franklin, Opelousas, New Iberia and Rayne and throughout Lafayette Parish, St. Martin Parish, St. Landry Parish, Acadia Parish, Vermilion Parish, Jeff Davis Parish and St. Mary Parish. Legal Disclaimer This website does not offer you legal advice nor does it constitute the creation of an attorney-client relationship. This website contains general information and is no substitute for talking to a licensed attorney. If you need legal assistance, you must call and speak to me or another licensed attorney in your area as soon as possible. Many legal actions and defenses are subject to strict time limits so you must act quickly to protect your rights. |
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Practice: Family Law >
Community Property |
