Brentwood Property Division Attorneys
As soon as a couple marries, they start to acquire property and debt together, and the longer they stay together, the more assets and debts they build up. In a typical marriage, these assets will include a home, one or more cars, furniture, clothing, jewelry, and one or more retirement accounts. In more complex or high-asset marriages, marital assets might include a family business, investment accounts, works of art, investment properties, and more expensive, valuable and high-end real and personal property.
No matter whether the couple acquired a little bit of property during the marriage or a lot, it all has to be divided if the spouses decide to divorce. A divorcing couple can decide together how they want to divvy up their marital property by creating a marital dissolution agreement and getting the judge to sign off on it. If they can’t agree on how to divide their marital assets and debts, that’s something the judge will decide after hearing evidence and arguments from both parties.
The Brentwood divorce lawyers at Beal, Nations & Crutcher can advise and represent you when it comes to the division of marital property in your Tennessee divorce. Our family law attorneys are well-versed in complex and high-asset divorce cases, including those involving the division of retirement assets and businesses. We assist couples in creating marital dissolution agreements outside of court and also provide skilled representation in mediation and litigation to protect our client’s interests and wishes. Whether the marital property in your divorce is simple or complex, you can count on Beal, Nations & Crutcher to handle your case skillfully and successfully.
How Tennessee Courts Divide Marital Property
When dividing the marital property, Tennessee law requires judges to make an “equitable distribution” of the property. An even 50/50 split of the property is generally presumed to be equitable, but there are a lot of reasons why it might be fair to divide the property unequally. Tennessee judges are required to consider a dozen different factors when deciding how to divide the property equitably. These factors include:
- The length of the marriage
- The age and health of the parties
- Each spouse’s earning capacity and vocational skills
- How much one spouse might have contributed to the education, training or increased earning spouse of the other spouse
- Each party’s ability to acquire capital assets and income in the future
- How much each party contributed to the marriage as a wage earner, homemaker, or parent, as well as whether either party wasted marital property for some non-marital purpose
- The value of each spouse’s separate (non-marital) property
- Each party’s separate estate at the time of the marriage
- Each party’s economic circumstances
- The tax consequences of the property distribution on the parties
- The value of a closely held business or similar asset
- How much social security each spouse has earned
- Any other factors relevant to an equitable distribution
How Our Brentwood Divorce Attorneys Can Help
If you and your spouse want to settle the property division outside of court, we can help you negotiate a fair division and draft a marital dissolution agreement that reflects your wishes and can be approved by the judge. Our lawyers include former judges, magistrates, and a Tennessee Supreme Court Rule 31 Family Law Mediator, so our team is skilled and experienced in helping parties come together and resolve complex or difficult issues. If it is in your best interests to take the matter to court instead, our skilled litigators will present compelling evidence and persuasive arguments for the judge to consider regarding the equitable distribution factors described above.
Our property division attorneys can also play critical roles in characterizing and valuing the relevant marital property. Tennessee law goes to great lengths to define what is and is not marital property and separate property. With experience in high-asset cases and divorces involving business valuations and the division of retirement accounts, our team can make sure every marital asset and debt is located, disclosed, properly characterized as marital or separate, and appropriately valued for a fair distribution. If there are specific assets you desire to keep, we can argue for the fairness of an unequal division or an offset through a lump sum alimony payment. We take the time to listen to your needs and work to achieve a fair property division that represents your interests.
Skilled and Knowledgeable Help With the Property Division in Brentwood Divorce Cases
For help with the property division and other outstanding issues in your Brentwood, Tennessee, divorce, call Beal, Nations & Crutcher at 615-861-2304 to discuss your concerns with a team of skilled and experienced Tennessee family law and divorce attorneys.