Property Division Lawyers in Franklin TN
Experienced Williamson County Attorneys Representing You in a Divorce
All couples who are seeking a divorce in Franklin will have to face a myriad of issues and legal hurdles. One of the most common that nearly all divorcing parties will have to deal with is that of division of property. How property is divided in Williamson County can be confusing, and if you and your soon-to-be-ex-spouse are unable to reach an agreement, the court may make a determination on your behalf.
At the offices of The Long Firm, LLC, our Franklin property division attorneys are here to provide you with the legal support you need.
Dividing Property in a Divorce
The most ideal situation when it comes to the division of property is for you and your spouse to work together to reach an arrangement. There are multiple benefits of working together, including:
- More control over the outcome of your case;
- Saved time;
- Reduced court expenses and legal fees; and
- Less stress – working together instead of fighting it out in court can preserve the relationship and mitigate hurt feelings and negative emotions.
If you and your spouse cannot reach an agreement through mediation or another form of alternative dispute resolution, the decision will be left to a Williamson County family court judge.
How a Court Makes a Decision About Division of Property in Tennessee
Tennessee is an equitable distribution state, which means that all property that is marital property must be divided in a manner that is equitable, but not necessarily equal. In other words, the court will consider a number of factors when dividing property in order to make a determination that is fair to both parties, rather than just settling with a 50/50 split.
Separate property is regarded as that property which was acquired prior to the marriage, or was gifted during the course of the marriage or acquired via inheritance. Marital property is all other property acquired during the course of the marriage, even if it was purchased by one spouse independently.
As found in Tennessee code, cited above, factors that the court may consider in determining what is an equitable distribution of property include:
- How long the marriage has lasted;
- The skills, health, and ages of both parties;
- The contributions one party made to the other;
- The ability of each party to acquire assets in the future;
- How much separate property each party has;
- The economic circumstances of each party;
- Tax consequences of a property distribution agreement;
- Social Security benefits available to each party; and
- Any other factors found relevant.
Our Franklin Property Division Lawyers Are Here to Help
We know that what you walk away with at the conclusion of a divorce can have a huge impact on your future. At The Long Firm, LLC, we are concerned with maximizing the amount of property you are awarded in a divorce judgement, and can represent you during mediations, negotiate on your behalf, or litigate in court. To schedule a consultation with our law offices, please call our Williamson County property division legal team, or send us a confidential message using the contact form on our website.