Louisiana marriages that dissolve are subject to asset division under a fifty-fifty division law. This puts Louisiana in the minority of states, accompanied by Guam and Puerto Rico, that use a community property rule over an equitable division process. Individuals could expect to split everything down the middle based on the market value of the asset in question.
The Internal Revenue Service describes this type of system as similar to an equal partnership. According to the IRS, the conceptual basis of the marital property law is that each spouse contributes equally to all earnings of the couple. Each person would, according to this understanding of the institution, own a 50-percent share in the community earnings and assets.
Unsurprisingly when considering the fact that agreements divide community property equally, one of the key elements in successful divorce cases in Louisiana is the identification of which assets belong to the community and which to each individual. A thorough valuation and discovery process could be a major element of cases, especially those in which the former spouses find it difficult to reach an agreement on their own.
FindLaw mentions, in its section on marital property law in the state, that courts are often amenable to reasonable property division agreements that couples reach. This consideration could offer individuals the option to divide property in a way that fits their own special circumstances.
The FindLaw resource also states that Louisiana is one of the more flexible states in terms of property division. While this could be an advantage, it also means that it could take more care to craft a beneficial agreement.