Marital Assets Lawyers in Clarksville Helping Ensure a Fair Divorce Settlement
Getting a divorce means going from one unit to two separate lives, and this is reflected in the fact that all of the marital assets must be divided before the divorce can be finalized. This can be an emotional time, as a life that you had planned together gets divided up according to what the court deems best. However, you aren’t just a passive bystander in this process. Learn what your rights are when it comes to property division and how an attorney can help.
Property division is one of the main parts of a divorce, and it’s crucial that you understand what your rights are, what the state guidelines allow for, and your options when it comes to legal strategies. Call our office today to schedule a free consultation and find out what your next steps should be.
How Are Marital Assets Divided?
Marital assets are supposed to be divided in a fair and equitable manner. However, as long as both parties agree, this can be done in almost any way. If there is a prenup or postnup in play, the courts usually enforce whatever that agreement was, but it is possible to present an argument that your prenup should not be enforced if there were extenuating circumstances. If the parties are not able to come to an agreement and present it to the courts, the judge will decide what a proper division of property should be.
What’s the Difference Between Marital Property and Separate Property?
When it comes to property division, knowing what is classified as marital property and what is classified as separate property is key. Marital property is a property that was either acquired during the marriage or was used to support the marital finances in the case of liquid assets. For example, if a bank account is only in one person’s name but was opened after the marriage and the funds were used to pay marital bills, it may still be classified as marital property. Separate property is a property that was either held before the marriage or was specifically excluded as part of a postnuptial or prenuptial agreement.
Can We Use Mediation to Determine Property Division?
Yes, it is possible to determine how marital property is divided by agreement. If there is not a preexisting agreement, you can work with your ex to come to an agreement. Sometimes, this can be difficult on your own when the emotions involved in a divorce are running rampant. But mediation can help. Mediation involves a neutral third party who is there to help the parties come to an agreement and ensure each side is heard and represented in the discussions. Your attorney will also be present during mediation to ensure that any agreement is fair and that your interests are protected and reflected in the final draft that is sent to the judge.
What Happens If Both Parties Don’t Agree?
It’s almost always a good idea to at least attempt to come to an agreement on property division with your ex if possible. But sometimes, negotiations just don’t work out, and the case has to go forward to trial. If you and your ex aren’t able to reach an agreement, both parties will present their argument to the judge, and the judge will decide how the marital assets will be divided to ensure a fair and equitable settlement. It’s important to note here that fair and equitable do not mean 50/50. If you have questions about a proposed settlement or what the court’s direction means after an order has been made, reach out to one of our family law attorneys to discuss your case.
Whether you are considering divorce or are already in the middle of court proceedings, it’s important to carefully consider your options and ensure you understand what marital assets you may be entitled to. Hibbeler & Associates is here to help. Our team includes experienced family law attorneys who understand how marital assets are divided in Tennessee and can provide counsel in regard to your case. Call 931-236-2711 to get started.