Division of Property & Debt
In divorce there are many complex issues and disputes to resolve. Aside from issues concerning your children, property and debt division are likely to be the most unsettling. Additionally, reaching agreements on some issues such as who stays in your house may well impact your children. As in all matters of divorce, we will closely assess what is in the best interests of your children. If you do not have children, I will work for equitable distribution in accordance with state law.
Equitable distribution, however, may not mean an exact 50-50 split in Tennessee. Together, we will examine several factors that help to determine how your marital assets and debts should be fairly distributed. As a solo practitioner attorney in Franklin for nearly 20 years, I have become knowledgeable and effective in handling this aspect of your divorce case with efficiency. I can assist in having business valuations performed by appropriate experts, when necessary, evaluate financial investments and bank records, and obtain accurate property appraisals to get a full picture of the assets and debts you and your spouse have acquired.
I will work to help you evaluate the equity in your home, divide business assets if necessary, protect you from debt liabilities to the fullest extent possible and advocate for your best interests concerning fair and equitable distribution.
Evaluating Your Full Property, Debt And Financial Picture
At the beginning of your case, this will be one of our primary objectives. As your lawyer, I will help you think outside of the box to help you determine the best solutions to achieving your goals and uncovering all marital assets and debts. I also help clients split retirement accounts fairly in divorce.
It will help you to know what the court will consider relevant in determining equitable division of your assets and debts. It will factor such aspects as:
- Contributions of each party to the marriage as homemaker, wage earner or parent, giving equal weight to these roles if each party has fulfilled his or her role
- Duration of the marriage
- Age, physical and mental health, vocational skills, employability, earning capacity, estate, financial liabilities (debt) and financial needs of each party
- Tangible or intangible contributions to one party’s education, training or increased earning power by the other party
- Value of separate property of each party
- Estate of each party at the time of marriage
- Economic standing of each party at time of division of property
- Tax consequences of asset sales and other foreseeable expenses
- Social Security benefits
- Other factors as necessary
Prenuptial and postnuptial agreements will also factor into the court’s decision. Including a discussion of alimony to offset some potentially unequal division of property, we will discuss all your options and creatively structure the case that can yield your best possible result.