When you and your spouse in Tennessee come the decision that you will no longer remain married to each other, it is time to embark on the difficult journey of splitting up your joint lives. There are many layers to this and some of the work involved focuses on separating the two of you financially. If one or both of you have student loan debt remaining from your college days, you might automatically assume that this debt will be assigned to the person who took the loans out. That may happen but it may not.
As you prepare for your divorce proceedings in Nashville, you may be ready to move on from many aspects of your marriage; your relationship with your pet, however, may not be one of them. Pets are often afforded a great deal of love and sentiment. Just as you cannot imagine not having your children in your life following your divorce, you may feel the same way about your pet. Many have come to us here at Rogers, Kamm & Shea in your same situation wondering how the court handles the issue of pet custody. The answer can be quite complicated.
For a couple who makes the tough choice to end their marriage in Tennessee, the thought of splitting up their assets can be challenging. While choosing what assets to give up is a hard thing to do, spouses should also pay close attention to the fact that they must split up their debts as well. In some cases, how debts are assigned may factor into what assets are kept by either spouse or even sold.
If you are getting divorced in Tennessee, it is not uncommon to learn that your spouse wants to keep your house instead of selling it. This happens quite often, especially when a couple has children who still live at home. The emotional desire to maintain any sense of stability and familiarity for kids is understandable. However, you should be careful to not allow this emotional tug to put you in a bad financial situation.
As you prepare to tackle property division as part of your divorce proceedings in Nashville, understand that you will almost certainly be surprised to discover just how many assets are subject to being split between you and your soon-to-be ex-spouse. The most common asset that those that we here at Rogers, Kamm & Shea Attorneys at Law have worked with in past claim to be the surprised at learning of its status as a marital asset is their 401ks. Your 401k exits solely because of your career. Why, then, should your ex-spouse be able to benefit from it?
The common school of thought regarding property division in Nashville is that all marital property will be distributed equally amongst both sides in a divorce case. Most assume this to be ture because it is required by law. While there may indeed be many cases that see a divorcing couple evenly share their assets, there is actually nothing in the state's statutes stating that marital assets must be shared equally. Tennessee follows the equitable distribution model when dealing with property division cases. While "equitable" and "equal" certainly sound similar, many are surprised to learn that they are not the same thing.