Whether your divorce process is likely to progress amicably or whether you’re likely to end up in court, it’s important to set expectations and clearly identify your priorities related to asset division as soon as you can. Why? Making these efforts early may impact any number of decisions you’ll make before your divorce is finalized.
Before you can set realistic expectations for your asset division process, you’ll want to learn more about Tennessee’s divorce process. Then, you can set informed expectations for what’s coming, based upon whether you and your spouse are likely to reach a mutually-agreeable solution or it’s likely that a judge will need to rule in favor of your position or your spouse’s.
One of the key concepts that you’ll need to keep in mind when setting expectations and clarifying your priorities is the notion of “equitable distribution.” Unlike many other states, Tennessee doesn’t require judges to divide the value of a couple’s marital estate into an even 50-50 split. Instead, state law allows for different kinds of asset division arrangements, provided that they are fair in nature.
This means that if you and your spouse don’t agree on whatever arrangement makes sense to you both, a judge could potentially award you a larger share of your marital estate if doing so would be fairer than an even split or awarding you a lesser share than your spouse.
What do fairness and the future look like to you?
Is there some reason why you should be awarded a larger share of your marital estate than your spouse? Are there assets that you wish to retain or is your priority simply to seek a fair settlement regardless of how it is structured? By carefully considering what to expect and what your goals for the asset division process are, you’ll be better positioned to make informed choices moving forward.