Chattanooga Property Division Lawyers
Divorce Attorneys Serving Chattanooga, Knoxville, Nashville & Franklin TN
If you and your spouse are able to agree on how to divide your property, then the agreement will be documented with a Marital Dissolution Agreement. If you are unable to agree, you will go to court, and the judge will decide and order an equitable distribution of your property. Equitable does not necessarily mean equal, but rather, what the judge deems fair to both spouses. In deciding what is equitable, a court will commonly take into account:
- Length of the marriage
- Work history and job prospects of each spouse
- Physical and mental health of each spouse
- Source of particular assets
- Expenses of the children
Property and asset division agreements may arise as a result of:
Divorce Mediation and Asset Division
If your divorce case is one wherein both parties are able to come to a mutual agreement of your dissolution of marriage contract, including division of marital property and other assets, then divorce mediation may be the best option. Divorce mediation and collaborative divorces can offer several benefits. It can save a lot of time, money, and avoid hard feelings. Divorce mediation can take half the amount of time a trial divorce does, and it saves spouses from having to share the most intimate details of a marriage.
However, if you and your spouse are at the point where your divorce or separation is contentious or irremediable, and are unable to come to mutual terms, then you must appear in court for a judge to conclude your property divison agreement for you.
For more information on your divorce and separation options, inlcuding property and asset division, please contact the Chattanooga family law attorneys at Mitchell A. Byrd, PLLC for your free consultation today at 888-265-4856, or complete the web contact form.
