Division of Marital Assets in a divorce can be a struggle. Often both sides demand ownership of shared marital property during the course of a divorce. Having an experienced asset division lawyer on your side is the best answer to the question… Who gets what in a divorce?
Sorting Out Property Issues in Your Divorce Case
Marriage creates an economic unit where the spouses’ incomes and assets are typically mingled together in many ways. Before your divorce can be finalized in Tennessee, the court will need to approve a division of your and your spouse’s assets and debts.
At The Law Offices of James Flexer, our Nashville marital property division attorneys guide clients through the asset division process with an eye on their interests. Having an experienced marital property division attorney on your side is not only smart but a valuable asset to the future of your finances as you begin to rebuild and move beyond your divorce. Contact us today to set up a free consultation with a knowledgeable divorce lawyer. We have experienced marital property division attorneys at our offices in Nashville, Murfreesboro and Columbia Tennessee.
Understanding the Asset Division Process
With a few exceptions, any property owned by you or your spouse, no matter whose name it is in, will be considered a marital asset and can be reassigned or divided in a divorce in order to achieve an equitable (fair) distribution. The assets most often involved in divorce cases include:
- Homes and other real estate
- Savings and investment accounts
- 401(k) and other retirement accounts
- Small business ownership interests
- Furniture and other personal property
Arriving at a fair division of the marital assets may require assessing the value of some of those assets. This is a particularly important issue when it comes to small businesses and shares of closely held businesses, as well as valuable personal property.
Addressing Debt Division So You Can Move Forward
Not only assets, but also debts, are subject to division in divorce cases. In recent years, with the housing market in such bad shape, many people do not feel that they can afford to get divorced because of the complications of dividing their mortgages and other marital debts. If you are contemplating divorce and bankruptcy, our experienced attorneys can advise you on both of these processes.
We will do everything we can to pursue solutions that will enable you and your spouse to complete the divorce process so that you can get on with your life. Don’t hesitate to contact us to discuss your concerns about the division of marital property or any other divorce issue at one of our offices in Nashville, Murfreesboro and Columbia Tennessee.