Understandably, many divorcing spouses have concerns about how their marital property will be divided. After all, the assets you walk away with can make a big difference in how you live after your divorce.
You will likely hear many second-hand stories about property division from well-meaning friends and family. However, learning the facts about this difficult part of divorce and a good first step is to forget about possibly harmful marital property myths.
You get half no matter what
This false belief has resulted in disaster for many who anticipated a certain property settlement but received less. While Tennessee follows the equitable distribution standard, it does not mean you will get exactly half of your marital assets. Courts look at many factors (income, financial needs, etc.) to make property decisions that are fair to both spouses.
You don’t need to worry about debts
Contrary to common belief, property division addresses marital debts and assets. When the court determines how to distribute your property, it will also decide how to split your debts between you and your spouse. As you enter the property distribution stage, be sure you know what debts you owe as a married couple.
You can get more property if your spouse cheated
Adultery is acceptable grounds for divorce in Tennessee, but it probably will not affect property matters. However, if you can prove that your spouse spent much of your shared assets on an outside romantic partner, you may have cause to press for more. A representative can counsel you on whether this is possible in your case.
It may serve your interests to learn how a knowledgeable practitioner could help you protect your property rights in an equitable distribution divorce.
