Division of Marital Assets in Nashville Divorces
Helping you get a fair share of your marital property
When two people get married, they tend to entwine their lives and affairs and operate as a single person. If and when they get divorced, the joint life must be separated in a way that fairly accounts for the needs and contributions of each spouse. Because the rules governing division of marital assets in Tennessee are subjective, it takes an attorney with experience and judgment to ensure that you receive your fair share. We at Miller Upshaw Family Law, PLLC understand how much of an effect property division can have on your life moving forward and have fought for clients at both the negotiating table and in the courtroom.
What property gets divided
Not all property is subject to equitable division. In fact, distinguishing marital property from separate property is a complicated threshold issue in many simple and complex asset division cases. As a general rule, only property acquired during the marriage is subject to equitable division. Even then, certain types of property are exempt in most cases:
These rules may be altered by a pre- or postnuptial agreement. Separate property can also become marital when the spouses comingle it or take other actions that suggest they regarded it as marital property. Once marital property is identified, what value should be assigned to it becomes an issue. This is especially complicated in cases involving the division of business assets.
What the court considers
There is no set formula for the division of marital assets. The court simply attempts to divide the marital estate in a way that is equitable but not necessarily equal. In doing so, Tennessee courts consider a number of factors, including the respective personal assets, earning capacity of the parties and the tax consequences of requiring property to be sold. It can be extremely difficult to predict how these highly subjective rules will be applied in real life. However, experienced attorneys, like those at Miller Upshaw Family Law, PLLC may provide insights into the type of outcome you could expect should the case go to trial. This can be valuable when negotiating property settlements or participating in divorce mediation.
Put our experience on your side in property division litigation
We at Miller Upshaw Family Law, PLLC have a record of success fighting for favorable division of marital assets for clients in the Nashville area and throughout Middle Tennessee. In historic Edgefield, our Nashville office is within sight of the courthouse and offers free parking. Call us today at 615-391-4200 or contact us online to schedule a consultation with an experienced attorney.