Navigating a divorce under Tennessee law involves several critical issues that can have lasting impacts on both parties involved. Each aspect of the divorce requires careful legal consideration to ensure fairness and compliance with state guidelines.
Spousal support
In Tennessee, alimony is a key issue that often arises during divorce proceedings. This is especially true when there is a major difference in the earning capacities of the spouses.
The primary goal of alimony in Tennessee is to mitigate the economic effects of divorce by providing continuing income to the lower-wage-earning or non-wage-earning spouse.
Factors such as the duration of the marriage, each spouse’s financial condition, and their standard of living during the marriage play roles in determining the amount and type of alimony awarded.
Selling shared properties
Dividing shared assets, including real estate, is another common challenge in divorces. Properties purchased during the marriage are generally considered marital property and are subject to division.
However, the division of properties owned by one spouse prior to the marriage can also occur under certain conditions when commingled with marital assets.
Evaluating pensions and retirement accounts
Pensions and retirement accounts are also significant assets to evaluate during a divorce. This often includes contributions made by both spouses to any retirement plans. These are then often divided between the parties.
Handling marital debts
Marital debts are also settled in a divorce. Debts incurred during the marriage typically belong to both spouses, regardless of who incurred them. There are exceptions, which is why identifying and arranging to pay off these debts is crucial during the divorce.
Understanding and effectively managing these issues within the framework of Tennessee’s divorce laws is crucial for achieving a settlement that respects the rights and futures of both individuals involved.
