Property division cases can sometimes be complicated and frustrating, but it pays to be professional and to focus on your needs instead of just your wants. When you have to decide on how to divide your property, the first thing you should consider is what you actually need along with what you can afford. For example, if you want to obtain the family home, you should first consider if you can afford to maintain it and the mortgage on your own. If so, how will that impact your other finances, and what would you be willing to “give up” in exchange for such a large asset?
In most cases, people can come together and work out a property division plan. Even if you and your spouse aren’t getting along, you have options like negotiating through your attorneys, going to mediation or spending time in arbitration. If those fail, then a judge will decide who should receive what, which should be your last choice.
Tennessee is an equitable distribution state, so no judge will force an even 50-50 split of your assets. Instead, they will encourage you to think about who has spent more time or money on the relationship, supported the other spouse or provided more. If both people have fairly contributed to the marriage, then a 50-50 split, or close to one, is likely the fairest way to resolve any property division issues. Your attorney will talk to you about the options that you have and give you information on how you should move forward. Good advice does make a difference during a divorce.