Property Division in Tennessee
Let Our Jackson Divorce Lawyer Help You
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 Tennessee family law lawyer is 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.
How is Our Property Divided?
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
Contact Our Firm for Experienced Legal Assistance Today
You have too much to lose and everything to gain by consulting with our Clarksville family law 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.
Contact us and request a free consultation today.
