Baton Rouge High Asset Divorce Lawyer

Baton Rouge High Asset Divorce Attorney

Divorce brings stress. It becomes harder when large assets are involved. Dividing wealth needs to be done carefully. The wrong move can cost years of work. A Baton Rouge high-asset divorce lawyer can help with the challenges of complex holdings.

Support at Every Turn

When finances are on the line, weak counsel won’t cut it. We don’t flinch at Longman Jakuback. Our case results prove we can handle pressure. Clients say we fight like the stakes are personal. We provide honest updates so that our clients know what’s going on at every step.

Legal Issues in a High-Asset Divorce

Louisiana follows community property rules. That means most property gained during the marriage is split evenly. However, in high-asset divorces, what counts as shared can be harder to prove. Things like inheritances can raise new legal questions.

Some couples have prenuptial agreements. This can decide how to divide assets before a divorce begins. The court may enforce them if they meet legal standards. To do this, they must be signed under fair conditions.

Courts also look at separate property. That includes anything owned before marriage. That also includes any gifts received during the marriage.

It can be hard to keep them separate if these funds are mixed with shared assets. These assets can include physical property like homes. As of July 1, 2024, there are 2,138,991 total housing units in Louisiana.

Financial Factors

High-asset divorce can bring up complicated issues. Things like retirement accounts are sometimes difficult to split. Some assets may change in value during a divorce. That can change the outcome.

Physical property fluctuates in value often. From 2019-2023, the average value of property in Louisiana was $208,700.

Business ownership is one of the hardest parts. A court might need to decide if one spouse’s business is part of the community estate. Sometimes, both parties helped grow the business. In these cases, the court can divide shares.

Avoiding Common Pitfalls

Things can go wrong if the right proof is missing. Common errors in high-asset divorces include:

• Missing financial records: Courts need full records. Things like tax returns must be up to date. Hiding these records can slow the case entirely.
• Hiding assets: Some people move money into other names. They can also claim that property is worth less than it is. Courts frown on this behavior. A skilled attorney knows how to uncover these attempts.
• Mixing property: Mixing premarital assets with joint accounts can make it hard to claim them as separate. They require detailed tracing to figure out what one spouse owns alone.
• Tax issues: Some asset divisions trigger taxes. Selling a home or cashing out a retirement plan can bring surprise obligations. Without tax planning, one spouse may take a hit that could have been avoided.
• Rushing: A quick deal can sound good at first. However, it usually leaves a lot of money on the table. Being patient can allow you to value everything properly. Things like businesses take more work to assess.

Avoiding these issues takes careful planning before the divorce starts. Many people work with a high-asset divorce attorney to affect the result.

The High-Asset Divorce Timeline

High-asset divorces take longer than most. That’s because courts need time to review the property. Disputes over who owns what can stretch the process out even more.

Some cases end with a settlement. Others don’t reach an agreement, so they must go to trial. If a couple can’t agree, a judge decides how to split the property. A trial might take several months to complete.

Why Do I Need an High Asset Divorce Attorney in Baton Rouge?

A Baton Rouge High Asset Divorce Lawyer has a large role in a high-asset divorces. The attorney helps collect records that help the process stay on track. They can also bring in professionals to formally assess the property. Strong legal guidance can help your case from the beginning.

In high-asset divorces, mistakes cost more. An attorney knows what to look for in records. They can challenge a bad-faith valuation. This can help you receive a fairer split.

The lawyer may also work with outside professionals like accountants. The High Asset Divorce attorney in Baton Rouge uses all their backgrounds to make the case stronger. It also often reduces unexpected costs like taxes.

FAQs About Baton Rouge High Asset Divorce Laws

What Is a High-Asset Divorce?

A high-asset divorce usually involves complex property. The forms of property might differ. Normally, it includes multiple homes or accounts. It could also include business interests if they are one of the 108,161 employer establishments in the state. In Louisiana, the value of these assets can affect how the court applies community property law. The process calls for a close financial review.

What Is the Wife Entitled to in a Divorce in Louisiana?

The wife is entitled to half of the property acquired during a marriage. Louisiana follows community property law. This applies unless there is a valid agreement that says something different. The court will also consider spousal support based on each spouse’s income. If the wife made sacrifices for the marriage, support may be more likely.

Can a Prenuptial Agreement Protect Assets?

A prenuptial agreement can protect some assets. It must follow Louisiana law to hold up in court. Both parties must sign the agreement before the marriage. If one party were forced to sign, it might not be valid. A judge can also set the agreement aside if one party didn’t have full information before signing.

Can Spousal Support Change Based on Income?

Spousal support can change based on income. It’s based on financial need and the ability to pay. More money means more ability to pay. Support can either be awarded temporarily or long-term. A spouse who committed adultery may not receive final support. Each case depends on what the judge finds fair.

Contact Our Experienced Baton Rouge High-Asset Divorce Lawyer

Wealth shouldn’t get in the way of what’s fair. A high-asset divorce might need more than a traditional Baton Rouge family lawyer. It takes a team that knows the stakes of these cases. Schedule a consultation with Longman Jakuback for sound legal direction.