Divorce is a serious problem in the United States. By 1994 the number reached 17.4 million. The Journal of Marriage and the Family attributes this large number to “no-fault” divorce which accelerated the divorce rate in the United States. The United States has the highest number of divorces in the world. Facing financial hardships often occurs after a divorce. Even to the extent of living close to the poverty level with limited financial assets. Fortunately, women can work and receive a decent pay especially if they have some level of education.
However, spouses can expect a reduction in income. Before the divorce, couples can agree to a “marital separation agreement.” They decide to divide assets and debts in a manner they choose. Without the advice of an attorney is risky. It is more beneficial to hire a divorce attorney New Orleans to review the division of assets to make sure all is fair. In Louisiana, marital assets are split evenly between both parties unless there is a valid prenuptial agreement defining a different allocation of assets.
Assets owned before marriage are viewed as separate property and are not considered community property by the court. Dividing retirement assets can be very complicated and require an experienced attorney to distribute the property correctly. There may be hidden property that you are not aware of such as bank accounts, stocks, and bonds, etc.
Child support and alimony are other considerations for your attorney to determine. It is always helpful if you and your spouse can have an amicable agreement for the items listed above, but in the event that is necessary for the court to make the final distribution, you want an experienced divorce attorney to stand by your side to protect your financial future. Visit http://www.DivorceLawyersNewOrleans.net for a free consultation to discuss your divorce case.