Property Division in Tennessee
Helping Protect Your Assets & Property
If you are getting a divorce in Tennessee, you must know what property is considered marital property and how it will be divided between you and your spouse. If you and your spouse can agree with how property, assets, and debt are distributed amongst each party, you can determine the terms of the agreement. However, if you are not able to reach an agreement, the judge will decide what property each party receives based on several marriage factors.
At Casey, Simmons & Bryant, PLLC, our lawyers are committed to protecting your rights and best interests. We will work hard to preserve your financial investments and give you a fresh start in the next chapter in life.
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How Are Assets Divided in a Divorce in Tennessee?
If you and your spouse come to an agreement with regards to how property is divided, then you can make all of the decisions. Your agreement needs to be documented in a Marital Dissolution Agreement.
But if you cannot come to an agreement, you will have to go to court for a judge to determine an equitable distribution of your property. Equitable is defined as a fair, reasonable, and just. However, equitable does not mean equal, so a judge can order one spouse to receive a larger share if the evidence suggests that it is a fair distribution.
The following are the factors a court considers in dividing a couple’s property:
- The duration of the marriage
- Age of each party
- Physical and mental health of each party
- Vocational skills, earning capacity, and employability of each party
- Each spouse’s contribution to the acquisition, preservation, appreciation, or dissipation of the marital or separate property
- Each spouse’s contribution to the education, training, or increased earning power to the other
- The value of each spouse’s separate property
- Each spouse’s estate at the time of marriage
- Each spouse’s retirement benefits, pensions, stocks, 401(k) plans, and Social Security benefits
- The economic circumstances of each spouse at the time property division is to become effective
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You have too much to lose and everything to gain by consulting with a lawyer. Our legal team can review your divorce and determine all of your available legal options in order to obtain the most favorable outcome possible.
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At our firm, we understand that you are going through a difficult time. We will guide you through this process with compassion and experience.
We understand that every case is unique. Our firm provides personalized attention and unique strategies for each case in order to achieve the most favorable results.
When you work with our firm, you will have advocates on your side that are ready for any circumstances and are not afraid to take your case to trial to secure favorable results.
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Our firm offers more than 30 years of combined legal experience to advocate for you. Each of our attorneys will bring their insight and to your case.