Divorce is difficult, and not just because it brings a relationship to a close; because a lot of work went into building the marriage, it will take a lot of work to undo it all. This is particularly true if a couple has complex assets they need to deal with during the property division phase of the divorce process -- such as investments. Thankfully, a family law attorney can assist Louisiana residents in reaching settlement terms that serve their best interests, regardless of how complex their asset situations may seem.
When it comes to investments and where they fit into divorce proceedings, a few things need to be taken into consideration. First, which investments are personal property and which are marital property? Only those that are marital property are subject to division. Second, what type of investment accounts does a couple have? Some will be easy to divide, others will be more difficult to split and some will be better off left alone.
Along with handling the division of various investment accounts, the owners of the accounts will want to double-check beneficiary listings before or shortly after the divorce is finalized. Most people list their spouses as beneficiaries on their accounts. This is something they may want to change, and it is not something they should put off.
Figuring out the best way to divide all shared assets can be quite the ordeal. This is particularly true with investment accounts, as some various penalties and fees may be issued if the division process is not handled just so. Louisiana residents who have questions about divorce and how it will impact their assets can turn to an experienced family law attorney for guidance on the matter and, when ready, further assistance getting through the dissolution process.