Columbia Property Division Attorney
Though the specific issues and disputes in a Tennessee divorce case are unique, parties will almost always need to address their assets during the proceedings. The Tennessee property division statute creates a system of equitable distribution, where assets acquired by the spouses during the marriage are split according to the interests of fairness. Items each party owned before getting married, gifts, and inheritances are separate property not subject to division between the parties.
However, this basic description of the applicable laws does not reveal how disputes and complications affect the property division process. Our team at Fort, Holloway, & Rogers, LLC has extensive experience representing clients in divorce cases, so we can develop strategies that minimize the complexities. Please contact us to set up a consultation with a Columbia property division attorney who can provide details. An overview on options for resolving asset distribution is also helpful.
Key Points About Tennessee Property Division Laws
As mentioned, the statute requires equitable distribution of assets between the parties, which does not always mean a 50-50 division. The objective is to divvy up assets fairly between the parties, based upon many other factors involved in the divorce. Some additional points to note include:
- The first step in property division is classifying marital and separate assets, since only marital property is subject to equitable distribution.
- Debts incurred by the parties during the marriage are also included in property division.
- The line between marital and separate property may be blurred when one spouse contributes to an asset that was owned by the other prior to marriage.
- Not all cases need to go to trial to resolve property division issues. The parties are encouraged to agree on asset distribution, and the court will order mediation for remaining disputes.
- Property division issues may impact other aspects of the divorce process, including alimony. Determinations on child custody may also affect who receives the family home.
Legal Help with Property Division
At Fort, Holloway, & Rogers, LLC, our team recognizes the value in attempting to work out conflicts outside the courtroom. Whether through settlement or agreement after mediation, we will guide you in making informed decisions about property division. We are skilled at negotiations, and our team has extensive experience with mediation.
However, if you cannot reach an agreement, our Columbia property division attorneys will fight for you in court. We will present arguments and evidence on the factors a judge considers with equitable distribution, such as:
- The duration of the marriage;
- Age, physical health, and employability of the parties, as they pertain to financial need;
- The value of separate property;
- Tax consequences;
- Whether one party dissipated or wasted marital assets;
- Tangible and intangible contributions by each party to the other’s education or earning power; and
- Many others.
A Columbia Property Division Attorney Can Provide Details on the Laws
If you would like more information on equitable distribution in Tennessee divorce cases, please contact Fort, Holloway, & Rogers, LLC to schedule a consultation. You can speak to a skilled Columbia property division lawyer by calling 931-901-2300 or filling out an online form.