Dividing Your Property After A Divorce
No marriage sets out with the intention to divorce. Still, life changes happen, and sometimes it is best for a couple to go their separate ways. If you and your spouse have established a life together, the issue of dividing property can be a complicated one, and you may be unsure what you can expect to obtain in a divorce.
Talking with an experienced divorce attorney is often a helpful first step. At Ken Lawson Law, our lawyer understands how emotionally taxing a divorce can be, and he offers a compassionate and thorough approach. We work closely with our Chattanooga clients to help them divide their property in a manner that serves their best interests while keeping an eye toward a positive future.
Understanding The State’s Marital Property Laws
The state of Tennessee does not adhere to community property laws. This means that property acquired during your marriage will not necessarily be divided evenly. Tennessee instead adheres to an equitable distribution statute, which, despite its name, is not always equitable.
A judge will consider the following factors when dividing marital property:
- The financial situation for each spouse
- The contributions made by both parties to the marriage
- The length of the marriage
- The needs of any minor children
- The retirement benefits available to both spouses
Under certain conditions, you and your spouse can arrive at a property division agreement outside of court. If you can reach an amicable resolution, you may position yourself for a more beneficial settlement. An effective divorce attorney can advise you on your best available legal options.
What Assets Are Not Eligible For Division?
In general, any property that you held before your marriage is not up for division. There are also other types of assets that you may be able to retain, including:
- Capital gains on previously owned property
- An inheritance
- Financial awards from civil cases
Property division is often a difficult phase of the divorce process. For this reason, having an attorney who will fiercely advocate for your best interests is important. Our lawyer will work tirelessly on your behalf to reach the best available arrangement.
Start Protecting Your Interests – Call Us Today
Our lawyer is prepared to help you through an emotionally trying time. To learn more about property division in Tennessee, please call us today at 423-800-6920. You can also schedule a free consultation by filling out our contact form.