The marital home is unlike any other asset in a divorce. For one thing, it is probably one of the largest assets that you own. For another, you and your spouse may both have your names on the deed. When you are dividing property in a divorce, you will need to put extra consideration into how to deal with your home.
If there comes a point when divorce is on your mind, it's only natural to turn your attention to the division of property (both assets and debts).
Prior to getting married in Tennessee, usually people had an individual life separate from that of their spouse. They may have owned homes, had bank accounts, retirement accounts and other assets, which they obtained all on their own. However, once they are married they begin to share their life with their spouse. This goes beyond simply sharing a home and filing joint tax returns. This can lead to complications during the property division process in a divorce.
There are many aspects to a divorce in Tennessee. People need to go through the complicated process of splitting one life into two separate lives. This includes determining who will be caring for the children. Responsibilities and property that were shared will now become the responsibilities and property of just one spouse. As one can imagine this is not always easy and there can be many disputes between the couple during property division.
If you are in the process of a divorce, important decisions must be made regarding a handful of issues including child custody, child support, spousal support and property division. These decisions should not be taken lightly; what you say and do today could have ramifications further down the line.
If you are on the eve of a wedding, we all know there are dozens of things that need to be addressed. Are all the invitations sent out? Is the table seating safe and appropriate? Do we have a set list for the DJ? What about flowers? The photographer? Limos? The list goes on. The last thing any couple would want to think about at this time is the possibility of a divorce. But thinking about the future is important, and none of us know what the future holds.
We all know there are seemingly countless decisions that need to be reached while in the process of a divorce. In an ideal world, both spouses are able to work together and make compromises on the decisions, whether it is child custody, alimony or property division. More often than not, though, there are varying opinions on what is fair or in the best interests of the children. This is when the courts generally have to step in.
You've worked hard over the years to support your spouse, take care of the children and make sure you also bring in an income. Now, you know that you and your spouse want to get a divorce, but you were relying on the pension that he's entitled to in the future. Will you still be able to seek this pension if you get a divorce?
The state of Tennessee recognizes equitable distribution when it comes to dividing property between soon-to-be ex-partners during a divorce. Equitable distribution relies on the premise of fairness in dividing real estate, personal property and intangible assets among divorcing parties.
Your kids are grown. Your life is established. Your lifestyle has been more than comfortable. Yet, something is missing. Maybe you feel like it's your last chance to pursue something different. Or maybe it's just taken this long to get the courage. No matter what led you to this place, the reality is the same - you're over 50 and you want a divorce.