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?
Tennessee is an equitable distribution state, which means that your marital assets will be divided equitably, not evenly, in the case that you choose to divorce. If you have put a great deal into your marriage, then this is good for you, because you can get more out of the divorce. However, if you have put effort into your marriage that is not necessarily financially observable, this kind of division could hurt you.
If you own a home with your spouse but he or she "disappears" following problems in a relationship, you may find it's difficult to sell your home. The problem is that you'll need his or her permission if you co-own the property, which is nearly impossible to get if you don't know where he or she is.
There is no worse fear than believing that you'll be left with nothing following your divorce and have to start over from scratch. The thought of losing your home, your assets and your financial stability is horrifying, but it's something that people deal with every day.
As you move through the divorce process, you're sure to pay attention to details like child custody, child support, property division and alimony.
When you decide that divorce is the best way to end your marriage, it's time to turn your attention to matters of property division. Along with this, you need to make a list of your financial assets, as these are sure to come into play during the divorce process.
When you decide to file for divorce, there should be no doubt in your mind that you will spend a good amount of time working through the property division process.
There is no way to avoid the many challenges associated with the divorce process. Instead, the best thing you can do is attempt to alleviate some of the stress.
As you move through the divorce process one small step at a time, it's only natural to turn your attention to property division at some point. You want to know that you are getting what is rightfully yours in regards to assets.
It doesn't matter if you are working through issues in mediation or facing your former spouse in court, you need to realize the importance of property division.