There are many common misunderstandings in dividing property in a divorce. Tennessee is an equitable distribution state—which does not necessarily mean an equal split. Courts look at separate property, marital property, each partner’s contribution to the marital estate, and a variety of other factors. It is important to have a seasoned attorney on your side to ensure you receive what is rightfully yours.
Divorce and Distribution of Property
Property division in a divorce does not just mean splitting real estate or furniture acquired during the marriage. Marital property usually includes pension plans, cash values in insurance policies, increase in value of property owned by the other party prior to a marriage, business inventory and goodwill, and even business accounts receivables, income, or bonuses that are earned but payable in the future.
A separate property of a spouse is generally property owned before the marriage and brought into the marriage and property received as gifts or through inheritance. I suggest my clients make detailed lists of property of both spouses, including separate property and marital property. Where possible, it is advisable to make copies of pension and retirement statements, payroll records, bank statements, business records, current debts, etc., to be reviewed by me when discussing the equitable property division details of your case.
Call on Karen Cain for assistance with property division in Tennessee
Contact Karen Cain, Attorney at Law for experienced, efficient, cost-effective representation on all family law issues. Deciding which attorney is right for you should not cost you money. Therefore, all initial consultations are free. I will answer your questions, evaluate your case, and quote you estimated fees. Contact us online or call 615-467-1804.