What,May,Happen,When,Community law What May Happen When Community Property is threatened to Be
Bankruptcy is a situation, wherein an individual is termed as unable to discharge all the debts. When a person or a company is not able to pay off its creditors, it has an obligation to file a bankruptcy suit. In fact, a bankruptcy suit is a When you work with an attorney, you will have no problem reducing the risks associated with getting your case in front of a judge and jury, or other formal court, when you need to. However, every case is different. It is important to work wi
Lets say that Nancy andRonald are married for ten years. Overthe course of their marriage, Ronalds grandmother dies. In the grandmothers will, she leaves to bothNancy and Ronald 5 million dollars, to be shared equally between them in thecommunity of marriage. Nancy and Ronaldagree to put away the 5 million dollars in a savings account to gatherinterest. The reason is that they bothhave pretty decent jobs, and they think its a good idea to save the money foran early retirement.Now lets say that Ronaldgoes up to Massachusetts to visit his brother in Boston. As part of the visit, they drive out west togo hiking in the Adirondack Mountains. After returning home a few weeks later, Ronald develops an odd, bullseye shaped rash on his lower leg. Aftergoing to the doctors office, he is told that the rash is from a tick thatcarried Lymes disease. Lymes diseaseis an incurable disease which can affect a persons brain if not treatedpromptly and effectively. The doctorgives Ronald a months worth of medication, and tells him to take themedication every day.Ronald has done his ownhomework on Lyme disease, and he decides that the threat of injury is not thathigh. As a result, Ronald does not takehis prescription medication at all.One year later, Ronaldbegins to suffer delusions and other mental problems which have been caused bythe Lyme disease. As part of hissickness, he starts to access the money which he and Nancy had saved away. For whatever reason, Ronald decides in hisdebilitated state to start purchasing old soda bottles. Attending flea markets and swap meets, andusing online resources, Ronald begins buying up any and all old soda bottleswhich he can get his hands on. He concealshis actions from his wife.A few months later, Nancychecks in on their five million dollars, and sees that Ronald had beenwithdrawing money. So far it appearsthat he has withdrawn one hundred thousand dollars. She thought he had been acting odd recently,and also spending a lot of time at a storage facility which he had randomlystarted renting a few months earlier. After visiting the storage facility, Nancy finds to her horror Ronaldsstockpile of soda bottles. She confrontshim, and he tells her that hes convinced that investing in these bottles isthe way of the future.Under Louisiana Civil CodeArticle 2374, one spouse can compel the separation of community property for,among other things, the incompetence of the other spouse. Here, because the five million dollars wasgiven to Ronald and Nancy together, it is probably going to be consideredcommunity property. If Nancy isconcerned that her half of that community is threatened by Ronalds Lymedisease, and also assuming she can meet the burden of proof, Nancy may move tohave her community property with Ronald separated, so that her share of themoney is not put at risk by his incompetence.This article is written to be generalinformation only; it should not be taken as legal advice. Will Beaumont. New Orleans.
What,May,Happen,When,Community