Chattanooga Property Division Lawyers

Advocating for Your Rights & Interests During Divorce

How your property is divided during a divorce will significantly affect your future. With an experienced Chattanooga property division lawyer from Conner & Roberts, PLLC, representing your interests in property division, you can feel confident about your future.

With nearly 40 years of combined legal experience, our trusted family law firm represents men and women facing property division and other divorce matters in Tennessee. Our Chattanooga property division lawyers provide knowledgeable legal advocacy throughout all stages of dividing property, assets, and debts.

Are you worried about how your assets will be divided in a divorce? Get answers from an experienced Chattanooga property division lawyer at Conner & Roberts, PLLC. Call Conner & Roberts, Pllc today at (423) 299-4489 or contact us online to get started!

Legal Standards for Property Division in TN

In Tennessee, when it comes to property division during a divorce, the court system follows the rules given by the law. This process includes an equitable distribution of the assets each party has acquired during the marriage. Generally speaking, this is not an equal split between the two parties. Instead, their contributions to the marriage in terms of income and possessions are considered first before deciding how to divide these assets appropriately. Additionally, due to Tennessee's status as an “alienation of affection” state, clients should be mindful that a judge may factor in infidelity or misconduct when making decisions concerning Tennessee property division.

Is Tennessee a 50/50 Divorce State?

Regarding divorce, Tennessee may seem like a tricky state to navigate through. The popular term "50/50" divorce state refers to the equal distribution of assets during separation proceedings. While Tennessee is not officially a 50/50 state, it does follow equitable distribution laws. Equitable means “fair,” rather than a 50/50 split of property, assets, and debt. Simply put, not every piece of marital property will be shared between divorce parties, and sometimes, a court may decide to give the whole asset to one spouse.

Tennessee Property Division Process

The property division process in TN includes:

• Identifying the assets: Defining the property, assets, and debts attributed to each spouse. When necessary, our Chattanooga property division attorneys can assist in identifying hidden assets when one spouse may withhold financial information.
• Categorizing separate and marital property: Marital property is any property that either spouse acquired throughout the marriage. Separate property was acquired before the marriage or through gift or inheritance during the marriage.
• Asset valuation: Marital property and assets will be appraised, and a value will be assigned.
• Property and asset distribution: The spouses will be awarded property and assets, including the marital home, real estate property, vehicles, investments, cash, retirement accounts, family-owned businesses, etc.

How Is Property Divided in a Divorce in Tennessee?

Under Tennessee legislation, the court takes into consideration the following aspects in dividing communal property:

1. Time spent in marriage;
2. The age, physical and also psychological health, professional skills, employability, earning capability, estate, financial liabilities as well as needs of each of the parties;
3. Whether one party obtained any tangible or intangible contribution from another party in terms of education, training, or increased earning power;
4. The capacity of each party for future acquisitions of capital assets as well as income;
5. The contribution of each party to the purchase, conservation, recognition, devaluation, or dissipation of the marital or separate property, including the contribution of a party to the marriage as a homeowner, wage earner, or parent, if each partner has fulfilled its role; (who contributed more, who played the marital role more, and why);
6. The worth of the separate assets of each party;
7. The estate of each party during the marriage;
8. The financial situations of each party at the time the division is to come into effect;
9. The amount of social security advantages available to every partner, as well as.
10. Other essential factors to consider are the equities between the parties.

Tennessee regulation takes into consideration each spouse’s separate property, and if one spouse has significantly more assets, the other partner is most likely to be awarded a more significant division of marital property. Our Chattanooga property division lawyers will be there for you every step of the way to help you during this challenging time.

What Are Separate Assets in Tennessee?

The main question during the divorce process in Tennessee is the question of dividing assets. This could be property or any other valuable thing you think should be divided relatively between two former partners. However, it depends on whether these assets are communal (marital) or separate.

Regarding divorce proceedings in Tennessee, it's essential to understand which assets can and cannot be divided. Generally, the funds, residential properties, financial investments, heirlooms, or other possessions you own independently are not eligible. This non-marital property may include assets acquired before marriage or through inheritance or gifts. However, even marital property may not be divisible in certain circumstances, such as when prenuptial or postnuptial agreements legally protect it. Additionally, assets obtained by one spouse through illegal activities, such as embezzlement or fraud, are usually not eligible for division.

Any possessions used for you and your spouse (such as a car, retirement accounts, etc.) or bought through shared accounts, even if bought by you, will be considered marital assets. In addition, debts also could be separate, such as student loans or credit card debts you had before marriage.

Mortgages in Divorce & Property Division

Divorce can be a complicated and emotional process, and when it comes to mortgages, things can get even more complicated. In Tennessee, mortgages are handled differently depending on how the property was titled and the divorce decree is written. If the mortgage is in both names, both parties are equally responsible for paying it. However, if one party is awarded the property in the divorce, they may be responsible for refinancing the mortgage solely in their name. Working with our experienced Chattanooga property attorneys to carefully review all documents and agreements to ensure a fair and equitable division of assets and debts is essential. While it may seem overwhelming initially, understanding how mortgages are handled in divorce can help you make informed decisions and navigate the process more smoothly.

Intellectual Property Division

In addition to traditional assets, we handle intellectual property division matters, including patents, copyrights, trademarks, and trade secrets. Our attorneys have experience assisting clients in identifying, valuing, and dividing intellectual property assets during divorce or other legal proceedings. Our Chattanooga property division lawyers understand the unique challenges and complexities of intellectual property division and are committed to protecting our clients' interests in these valuable assets.

Why Choose Conner & Roberts for Your Property Division Needs?

At Conner & Roberts, PLLC, we understand that navigating property division during a divorce can be one of the most challenging aspects of the process. Our dedicated team of Chattanooga property division lawyers brings extensive legal knowledge and a compassionate approach to every case. We prioritize your emotional and financial well-being, ensuring you feel supported and informed at every step.

Here are a few reasons why our firm stands out:

• Personalized Legal Strategy: We recognize that every divorce is unique. Our attorneys take the time to understand your circumstances and tailor a strategy that aligns with your goals.
• Comprehensive Knowledge: With a deep understanding of Tennessee property division laws, we provide accurate information and sound advice to help you make informed decisions.
• Strong Negotiation Skills: Our experienced lawyers are skilled negotiators. They strive for equitable settlements that protect your interests without the stress of prolonged litigation.
• Commitment to Communication: We believe in keeping our clients informed. You will receive regular updates on your case and have access to our team whenever you have questions or concerns.
• Proven Track Record: Our history of successful outcomes speaks for itself. We have helped numerous clients navigate property divisions with favorable results, allowing them to move forward confidently.

Choosing the proper legal representation can make all the difference in divorce proceedings. Let Conner & Roberts, PLLC, be your trusted partner in securing a fair property division. 

Call Our Chattanooga Property Division Attorney Today

Few proceedings during divorce are as troublesome as ensuring both parties receive a fair share of marital property. Without the proper representation, you could suffer consequences years down the road that could have been remedied up front. At Conner & Roberts, PLLC, our Chattanooga property division lawyer can help you plan effectively to avoid some of the common mistakes couples make during divorce.

Make sure your rights are protected. Contact a skilled Chattanooga property division lawyer today to secure a fair and equitable outcome!

Tennessee Property Division Laws FAQ

Can property division be modified after a divorce is finalized?

Once a divorce decree is finalized and property division is ordered, it is generally not subject to modification unless there are exceptional circumstances, such as fraud, mistake, or a significant change in circumstances. However, certain types of property division orders, such as those involving retirement accounts, may be subject to modification under certain circumstances.

How can I protect my assets during property division in a divorce?

You can take several steps to protect your assets during the property division process, including keeping detailed records of your assets and debts, obtaining appraisals of valuable assets, and consulting with a qualified attorney to understand your rights and options. Additionally, you may consider entering a prenuptial or postnuptial agreement to specify how property will be divided in divorce.

Is Inheritance Marital Property in Tennessee?

In Tennessee, inheritance is typically considered separate (non-marital) property, even if it was received during the marriage.