Financial Questions About Divorce in Tennessee

Individuals facing divorce may have many questions regarding how property will be divided and what options are most economically promising given their individual circumstances.

2012-07-26

July 26, 2012 (Press-News.org) Individuals facing divorce may have many questions regarding how property will be divided and what options are most economically promising given their individual circumstances. While a Nashville divorce attorney is the best resource if you are getting divorced, anyone can benefit from a basic understanding of how marital property is distributed under Tennessee law.

Equitable Distribution

Spouses and their attorneys may come to an agreement about how property will be divided upon the dissolution of the marriage. When such an agreement cannot be reached, however, a Tennessee court will step in and determine property arrangements.

Tennessee is an equitable distribution state. This means that a court will divide marital property -- all property acquired by either spouse during the marriage, regardless of whose name may be on the title -- in a way that is fair, without regard to issues of fault.

Equitable distribution does not necessarily mean a 50-50 split. The court will analyze many factors in dividing property, such as the length of the marriage, the age, health, and earning potential of each party, and contributions, both financial and non-financial, made by each spouse to the marriage.

Could A Legal Separation Be More Prudent Than Divorce?

Some couples are emotionally ready to leave a marriage, but are keenly aware that divorce is financially unwise. For such couples, a legal separation may be a viable option.

Couples who are separated remain legally married, but live apart. As in divorce, a court can address issues like child custody, support and property division for a legal separation. Alternately, legally separated couples may reach their own agreement.

So why would a couple choose legal separation over divorce? For some, there are religious or personal reasons. But, there are also a number of financial considerations that can make separation advantageous: retaining insurance coverage under a spouse's plan, tax savings and eligibility for certain benefits are just a few.

Contact an Attorney to Learn More

Tennessee divorce law is complex, and while a legal separation can be a financially fruitful alternative to divorce, it is just as rife with potential pitfalls. If you are concerned about how divorce might affect you financially, get in touch with an experienced attorney today to explore your options.

Article provided by The Law Offices of James Flexer
Visit us at www.flexerlaw.com

ELSE PRESS RELEASES FROM THIS DATE:

OOIDA Challenges New Out of Service Criteria

2012-07-26

The debate over working hours for over-the-road truckers continues in federal court as the Owner-Operator Independent Drivers Association (OOIDA) filed a Motion for an Order to Show Cause before the U.S. District Court for the District of Minnesota. The motion asks Judge Donovan W. Frank to order the Minnesota State Patrol and the Commercial Vehicle Safety Alliance (CVSA) to show why they should not be held in contempt of court for violating several portions of a court order barring them from holding drivers out of service. In 2009, OOIDA and driving member Stephen K. ...

Review Finds No Reason to Continue Use of Metal-on-Metal Hip Implants

2012-07-26

After several years of patient complaints and product recalls, a Food and Drug Administration (FDA) panel of health experts found that there is little reason to continue to use metal-on-metal hip implants in hip replacement patients. Over the last decade, orthopedists have increasingly used metal-on-metal hip implants after early studies found the devices were less susceptible to wear than their plastic or ceramic counterparts. However, more recent studies and thousands of patient complaints have proved the devices actually have a higher rate of wear, leading to discomfort, ...

Bank of America Shareholder Suit: Civil vs. Criminal Liability

2012-07-26

Americans have heard plenty about financial fraud in recent years, due largely to federal enforcement of white collar crimes in the mortgage industry and related sectors. Investigations of financial wrongdoing can lead to criminal prosecutions as well as lawsuits initiated by shareholders and other interested parties. A major shareholder suit recently filed in New York against Bank of America touches on some legal issues common to fraud lawsuits and federal white collar prosecutions. The case involves allegations that shareholders were kept in the dark regarding the ...

Just a Bump on the Head? Think Again. The Truth About Traumatic Brain Injuries

2012-07-26

Have you ever counted the number of times someone takes a spill on the hit show "Wipeout", or laughed at the falls people take on America's Funniest Home Videos? With more Americans leading active lifestyles, head injuries are becoming common, yet overlooked injuries that can have debilitating effects if not treated properly. People may hit their heads in falls or crashes may report immediate symptoms that quickly subside, but they may complain of lingering headaches and other cognitive issues weeks, or even months, later. The Mayo Clinic defines traumatic ...

Harassed by Debt Collectors? You're Protected by Federal Law

2012-07-26

No one likes being pestered by debt collectors calling at all hours of the day, making empty threats and using language that makes one blush. Fortunately, a federal law known as the Fair Debt Collection Practices Act protects individuals from debt collector and creditor harassment. It also makes it illegal for debt collectors to use unfair, deceptive or abusive tactics to provoke people to pay up. Debt collectors can pursue collection of credit card debt, auto loans, mortgages and even medical bills. They are hired by creditors to collect debts owed to them within a ...

Texas Woman Sues Late Husband's Employer for His Wrongful Death

2012-07-26

A Texas woman has sued the employer of her late husband after he died from a workplace fall, claiming the company waited two hours to call an ambulance and denied her husband crucial medical attention. The widow alleges that instead of immediately calling 911 after her husband fell at work, the company took a urine sample from him while he was unconscious to test for drugs, a claim the company denies. The husband was a cement loader and batch man and was two weeks away from retirement. After he fell several feet, he lost consciousness and later died in the hospital. Now, ...

How to Protect Yourself From Wage Garnishment in Ohio

2012-07-26

If you have ever gotten behind on your bills, you may have received a notice from your employer informing you that your wages will be garnished, which might make you think that your entire paycheck will go to paying off your creditors. Fortunately both federal and Ohio laws limit both the amount of money that can be garnished and how often garnishment can occur. In addition, there are certain measures you can take to avoid wage garnishment before it happens, including filing for bankruptcy. Wage Garnishment and Legal Protections Wage garnishment is the legal process ...

Domestic Abuse Advocates Concerned About Proposed U-Visa Changes

2012-07-26

Ongoing political wrangling over reauthorization of the Violence Against Women Act (VAWA) has centered on several issues, notably the role of provisions that help immigrants who cooperate with police investigations. The House version of VAWA includes significant alterations to laws that help immigrants come forward to report domestic abuse. Under current law, a person who is married to an American citizen or legal resident who provides sufficient proof of abuse can confidentially seek a U-Visa without immigration officials informing the alleged abuser. Under the House ...

Elevator Accidents: Avoid the Risks Whenever Possible

2012-07-26

Unless you're a highly athletic person in great shape and in your twenties or thirties, taking the stairs to the floor where you work in a tall skyscraper is simply out of the question. Yet during recent years, two New York City elevator accidents have caused many workers to seriously reconsider how they get to and from their offices each day. Two Exceptionally Tragic New York City Elevator Accidents On Christmas day 2010, a woman named Deborah Jordan and her daughter went to SUNY Downstate Medical Center in Brooklyn to visit a friend. As the woman stepped into the ...

Easy to Spot Water Damage Prevention Tips for the San Diego Homeowner

2012-07-26

Homes are the biggest purchase that most consumers make, and protecting them is a job that requires preventive maintenance and professional assistance. Water damage is a common problem, and prevention is the key. However, there are some times that accidents occur, and Dry Express Restoration offers 24 hour service, quality workmanship and specializes in excellent customer service. Roofs are perhaps the most common source of water damage, and homeowners should be sure to pay close attention to ceilings. Often, small problems can be identified and repaired early on. Gutters, ...

Financial Questions About Divorce in Tennessee

ELSE PRESS RELEASES FROM THIS DATE:

LAST 30 PRESS RELEASES: