Franklin Property Division Attorney
The division of marital property is an important issue that must be resolved in just about every Franklin divorce case. Any marital property acquired by the couple must be distributed equitably, and if the parties can’t agree on how to do this, the decision is left to the judge to make after holding a hearing on the matter. Couples can acquire a significant amount of both personal property and real estate in a short amount of time, making the property division a complicated and vital part of the divorce. After a long marriage or one where the parties earned high incomes, the property division issues can be especially complex and important to resolve.
The Franklin property division attorneys at Fort, Holloway, & Rogers have been handling Williamson County divorce cases for decades, including representing working professionals with complex financial situations and high-value assets to deal with in the property division. Call our office in Franklin to make sure you get your fair share of the marital property in your divorce. We’ll fight to protect your rights and ensure you don’t get taken advantage of while working to make sure you retain the property most important to you and necessary for your life going forward.
How Our Franklin Divorce Attorneys Help With Property Division in a Williamson County Divorce
Our lawyers are experienced Rule 31 Family mediators as well as veteran courtroom litigators. Whenever possible, we’ll help you and your spouse work out a marital settlement agreement that divides the property in a way that is meaningful and beneficial to you both. If the issue of property is too contentious to be resolved outside of court, we’ll represent your interests ably through litigation and trial.
When dividing property in a Tennessee divorce, Williamson County judges are required to distribute the marital property in an equitable manner. This means that the judge does not have to divide the property equally. After considering a number of factors, the judge might decide that an unequal division is equitable, or fair. According to Tennessee law, the judge will consider all of the following factors:
- The duration of the marriage
- The age, physical and mental health, vocational skills, employability, earning capacity, estate, financial liabilities and financial needs of each of the parties
- The tangible or intangible contribution by one party to the education, training or increased earning power of the other party
- The relative ability of each party for future acquisitions of capital assets and income
- The contribution of each party to the acquisition, preservation, appreciation, depreciation or dissipation of the marital or separate property, including the contribution of a party to the marriage as homemaker, wage earner or parent, with the contribution of a party as homemaker or wage earner to be given the same weight if each party has fulfilled its role
- Dissipation of marital assets on wasteful expenditures (i.e. gambling, expenditures on paramours)
- The value of the separate property of each party
- The estate of each party at the time of the marriage
- The economic circumstances of each party at the time the division of property is to become effective
- The tax consequences to each party, costs associated with the reasonably foreseeable sale of the asset, and other reasonably foreseeable expenses associated with the asset
- The amount of social security benefits available to each spouse
- Such other factors as are necessary to consider the equities between the parties
If the property division in your divorce is contested, our Franklin property division lawyers will build a case based on the above relevant factors and present a persuasive argument on your behalf to the judge. Our assistance can also prove invaluable in making sure every asset is located, properly characterized as marital or separate property, and accurately valued. Some property can be difficult to locate, especially if it is being concealed by the other party. Other times, property that was once separate or marital can change character during the marriage, which alters whether or not it will be subject to division in a divorce. We work with forensic accountants, appraisers and other experts to make sure all property is found and valued, and we are experienced in the valuation of complex property, such as business interests and deferred compensation plans. Our family law attorneys are also skilled and experienced in prenuptial agreements and can help determine whether a prenuptial agreement that addresses the property division is valid and enforceable in court.
Understanding the Division of Debt in Your Franklin, Tennessee Divorce
Like property assets, a court will again examine the details of your divorce case and try to assess the marital debt in an equitable manner. In Tennessee, courts use the following factors to analyze and divide marital debt in a divorce case:
- The purpose of the debt
- Which party incurred the debt
- Which party benefited from the debt
- Which party is best able to repay the debt
At Fort, Holloway, & Rogers, our Williamson County, Tennessee divorce lawyers understand debt assessment and can help you devise a strategic approach to dividing marital debt in or out of court.
Help With Complex Property Division Matters in Franklin, TN Divorces
For help with the property division in your Williamson County divorce, call Fort, Holloway, & Rogers, LLC in Franklin at 615-791-7575. We’ll give you an honest assessment of the issues in your case and create an effective strategy to help you meet your goals.