Property division is one of the most contentious aspects of modern divorces, particularly those involving high-net-worth couples. If you’re concerned about the fair and equitable division of marital property, you should work with a Nashville property division lawyer who has extensive experience in handling these delicate matters.
The team here at Anne Hamer Law has decades of experience in handling family law matters, including complex divorces. Whether you’re worried about getting your fair share of your spouse’s retirement fund or keeping access to the family home, we can make sure that your rights and interests are protected. We represent clients in mediation and have extensive trial experience. You can trust us to handle your property division case with the care that it deserves.
Tennessee has a divorce rate of 2.9 per 1,000 residents. In Nashville, where the median home value is currently $429,741 and can be much higher in affluent neighborhoods like Forest Hills, divorcing couples often feel that they have a lot to lose. Whether you’re concerned about keeping the marital home or protecting a business you started and nurtured during your marriage, you can hire a property division lawyer to help you achieve your goals.
A Nashville property division lawyer can handle all aspects of your divorce case, including valuing complex assets, determining what’s considered marital vs. separate property, and gathering documentation to support your case. We can also provide legal counsel during mediation and represent you in court should your divorce be contested. Hiring an attorney is the most effective way to support a positive outcome in your case.
Judges don’t necessarily divide property equally during a divorce. Instead, they take into account each spouse’s means, needs, and contributions to the marriage. They do not, however, consider fault when determining how property should be divided.
You and your spouse can come to an agreement about how property should be divided on your own, but if there is a disagreement, a judge must decide how to value property. Courts often use outside appraisers to assist with this process.
Factors considered by judges when determining an equitable division of property can include:
If you own your home with your spouse, it is considered marital property. Factors that can influence who gets to keep the marital home include whether there are any minor children and who receives primary custody over them. It’s often the case that the spouse not awarded the marital home is given an equalization payment to compensate them for their share of the equity.
Equalization payments are generally used to offset the value of assets awarded to one spouse. Generally, judges assign each spouse a percentage of the marital property’s total value, minus the debts. The assets and debts are then allocated so that each spouse’s share amounts to the assigned percentage.
In cases where there is one asset that is worth significantly more than the rest of the assets combined, as is often the case with the family home, an equalization payment can be made to compensate the non-receiving spouse. The money for this payment comes out of the paying spouse’s share of the marital property or from their separate property. In some cases, it can be paid in future installments.
Certain assets are more difficult to value and divide than others. Dividing employer-sponsored retirement accounts requires a qualified domestic relations order, for example. Valuing a business may require the help of a business valuation professional. The division of high-value assets can also have tax implications. Your attorney can help you understand all of these and other nuances of property division.
The type of lawyer that deals with property division issues is known as a Nashville property division attorney or a divorce lawyer. These lawyers are experienced in helping clients make sure that the marital property is equitably divided. They protect clients’ rights and interests during mediations and courtroom trials, depending on whether the divorce is contested or uncontested.
Assets that are untouchable in a divorce are called separate property. According to Tennessee property division laws, separate property includes premarital assets, inheritances received by one spouse alone, gifts given specifically to one spouse, and certain types of personal injury judgments or awards given to one spouse. Assets that are acquired by one spouse after an official legal separation are also considered separate property.
Property is divided in a Tennessee divorce using an equitable distribution standard. The judge decides how to split assets based on what they determine to be just, which means it’s not always an even 50/50 split. Factors that judges consider include the length of the marriage, each spouse’s age, health, and earning capacity, each spouse’s contributions to the marriage, and the value of each spouse’s separate property.
What a wife is entitled to in a divorce in Tennessee varies. She is always entitled to an equitable portion of the marital assets, and potentially to spousal support. Judges decide what is considered fair and equitable, and only marital property is split during a divorce. Separate property remains with its owner.
If you’re looking for a Nashville property division lawyer to protect your rights and interests during a divorce in Tennessee, look no further than Anne Hamer Law.
Attorney Anne Hamer has been representing clients in divorce cases for over two decades. She often works with high-net-worth clients, including musicians, business owners, executives, and entrepreneurs, to make sure that property is divided fairly. She has a strong foundation in business and finance and a unique perspective on complex divorce matters. Contact our office to schedule a consultation today.
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