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re: I'm about to inherit some Standard Oil stock from my grandparents.
Posted on 10/2/17 at 11:05 pm to LSURussian
Posted on 10/2/17 at 11:05 pm to LSURussian
quote:
Absent extenuating circumstances, such as a pre-nup or a previous existing court order, any asset that comes to a couple during the life of the marriage has 50/50 shared ownership in Louisiana due to our community property laws.
The general rule does not hold in this instance.
LINK
According to LA Civil Code Article 2341:
quote:
The separate property of a spouse is his exclusively. It comprises: property acquired by a spouse prior to the establishment of a community property regime; property acquired by a spouse with separate things or with separate and community things when the value of the community things is inconsequential in comparison with the value of the separate things used; property acquired by a spouse by inheritance or donation to him individually; damages awarded to a spouse in an action for breach of contract against the other spouse or for the loss sustained as a result of fraud or bad faith in the management of community property by the other spouse; damages or other indemnity awarded to a spouse in connection with the management of his separate property; and things acquired by a spouse as a result of a voluntary partition of the community during the existence of a community property regime.
Judging by the facts stated, it appears that this will specified that it was to be given to the children of the grandparents, or to their children (i.e. grandchildren) if the parents are predeceased.
As such, I would think it's clear that the inheritance is to the poster individually and thus separate property.
Also, this is not legal advice. I am not, and will not, be your attorney. No confidentiality, etc and so forth.
Posted on 10/3/17 at 5:37 am to bbrownso
quote:
property acquired by a spouse with separate things or with separate and community things when the value of the community things is inconsequential in comparison with the value of the separate things used;
this part I find interesting, can anyone elaborate exactly what this means, or exactly what are "seperate things"?
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