How Tennessee Courts Divide Property During Divorce Proceedings
If you have ever been through a divorce, then you know that things can get contentious fairly quickly. With competing interests, property distribution can be one of the most hotly disputed issues throughout the proceedings. In order to avoid some tension, it is in your best interest to take steps to protect your assets. The best way to do this is with the help of a qualified divorce lawyer.
At the Zanger Law Firm, we represent individuals in divorce proceedings throughout White House, TN, and the greater Nashville area. Our family law attorneys understand that this may be a difficult time for you and your family, which is why we handle every aspect of your case with the integrity and compassion you deserve. If you are considering or have already filed for divorce in Tennessee, contact our office to schedule a free, confidential case evaluation today.
What Type of Property Will Be Distributed in a Divorce?
The first thing to understand is that the only property that will be divided between you and your spouse in a divorce is marital property. Your separate property, or property that was acquired prior to the marriage, will not be divided. However, it may be challenging to determine what is considered marital property and what is considered separate property without the help of an attorney.
There is a common misconception that simply because something is solely in your name, it is separate property. Tennessee law defines marital property as all real or personal property acquired by either or both spouses during the course of their marriage. Marital property includes but is not limited to your income, the increase in value of the separate property if each party substantially contributed to its appreciation, and the value of vested or unvested retirement and stock benefits acquired during the marriage.
How Can I Protect My Assets During a Divorce?
Protecting your assets during a divorce can be difficult without the help of a qualified attorney. If you and your spouse filed a prenuptial agreement prior to marriage or a postnuptial agreement, that may help to protect your property.
If you do not have a legally binding agreement, you will need to take several steps to protect your assets:
- Determine what is separate property and what is marital property;
- Value all of your assets;
- Never attempt to hide assets;
- Consider a buy-out option where you buy out your spouse’s interest in the asset; and
- Consult with an attorney.
It is generally within your best interest to consult with an attorney as early in the process as possible. An attorney can help you value your assets and determine the best way to protect what you have. They will work hard to protect your interests throughout the process and obtain a favorable outcome on your behalf.
Contact Our Office to Learn More
If you are involved in a divorce in White House, TN, or the surrounding areas, contact our office to schedule a free, no-obligation consultation. We can help you understand your rights and responsibilities throughout the proceedings. Do not try to go it alone. Our lawyers are here to help. Contact our office today to speak directly with a knowledgeable member of our legal team.
