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Williamson County Divorce Law Blog

Retirement funds can obscure property division during divorce

As many divorcing couples in Tennessee may know, property division can be stressful, not only because of the emotions involved, but also because of the complexity of some of the assets to be divided. Not all assets can be divided in the same way. Retirement funds, for instance, can complicate the divorce process.

Property division can profoundly affect both parties' post-divorce finances. Both spouses should inventory their assets and properties, including all common assets, such as savings accounts, real estate properties and business investments. Both parties must also know each other's retirement plans as well as the tax implications of any divorce settlement changes and how accessible funds will be. Once the assets are known, each spouse can consider future post-divorce income, liabilities and expenses.

Celebrity divorce highlights challenges of asset division

Divorce can happen to any couple, whether a high-profile celebrity couple or a middle-class couple in Tennessee. Regardless of the wealth of the couple, however, the essential challenges of asset division during divorce are roughly the same.

After a decade of marriage and two children together, celebrity couple Gwyneth Paltrow and Chris Martin recently announced their divorce through an online venue in which they described the process as "conscious uncoupling." The announcement caught the interest of many people, particularly over how they will divide their considerable wealth.

Cohabitation can risk continuation of alimony payments

Spousal maintenance payments are a result of a court order following a divorce. This divorce court order takes precedence once signed so it can be difficult to terminate or reduce the amount of maintenance -- also known as alimony -- stipulated by the agreement. Divorced residents in Williamson County, Tennessee, may be familiar with the alimony payments.

Three conditions can end spousal maintenance payments: death, remarriage or cohabitation. Death and remarriage are simpler to establish legally than cohabitation. Several elements must be proven to establish cohabitation because the relationship is ill-defined. Cohabitation means an ex-spouse is living with someone in a marriage-like manner where they have mingled sexual, social and financial interdependencies.

Domestic violence incident in restaurant ends in man's arrest

Domestic violence is a serious threat not only to spouses and children caught between parents but also to anyone around them during an incident. Many Tennessee residents are hurt every day in domestic assault incidents, some of them for merely trying to help out.

Fortunately, this was not the case recently when a Bristol man decided to assault his ex-wife in a restaurant. Several concerned citizens stepped in to stop the assault and hold the man for police officers, according to Kingsport Police.

Thousands make daily calls for help from domestic violence

Domestic violence is a daily battle fought by Williamson County, Tennessee, residents and many across the United States. In fact, the National Network to End Domestic Violence took a one-day, random picture recently of requests for shelter and other forms of assistance from domestic violence victims in the United States and it revealed an unfortunate reality faced by domestic abuse victims.

On that singular day, nearly 250 calls for help per hour were received by hotlines and residences, totaling thousands of calls in one day. More than 66,000 requests were made by people living with abuse. Unfortunately, nearly one-sixth of those calls which asked for various forms of help, such as child care, legal assistance, transportation and housing, were unmet. More than half of those looking to leave the houses of their abusers were denied help.

Joint custody benefits both the child and divorced father

Settling issues regarding children is one of the most frequent reason for contention between divorced parents in Tennessee, as well as other places in the United States. Many different ways exist to approach parenting time or to assign visitation rights; a single legal arrangement cannot fit the needs of each Tennessee divorced family.

Divorce nullifies the marriage but not the relationship between parents and children. The idea of shared custody has taken center stage now and advocates of equal child custody state they believe it benefits the child and the divorced father. According to a father's rights group, family court often automatically awards custody of the child to the mother.

A great weapon against negative impact of property division

Many Williamson, Tennessee, residents knows that when a woman gets married, she may stay at home to care and look after the children and her husband. While this may be the common stereotypes of married women, most females in today's world are joining the workforce. In fact, some women are earning greater incomes than their husbands. Often, women of today have acquired a substantial amount of assets, properties and investments. And these assets and properties might be subject to property division in the event of divorce.

Property division in Tennessee is based on the equitable property laws. This means that the contribution of each party to the marriage, their income, age and financial liabilities are equitably divided between both parties. To wage-earning woman, property division can affect her financial stability upon divorce. Property division could also impact their future financial earnings, particularly if their husbands contribute to their success.

Running a business with ex-spouse poses risks

Running a business with your significant other might be a dream come true for many people, Tennessee residents included. Besides the close ties a couple share, they can help each other out as needed. Unfortunately, sharing a business with a former partner after divorce can put strains on both the business and the relationship.

The fate of a business owned and operated by a married couple is at stake during property division, one of the most important tasks to be resolved at the end of a marriage. The details of property division determine how all marital assets and properties should be divided. Marital assets can range from household items to bank accounts and business assets.

Another lesson for Tennesseans from McCourt's divorce

All assets or properties obtained by a couple during marriage are at stake in the event that spouses decide to divorce. Depending on the state and its laws regarding division of marital assets, they will be divided more or less along equal lines.

In Tennessee, assets are divided according to equitable distribution, which does not necessarily mean an equal split. To determine the basis for a reasonable and fair divorce settlement, however, both parties must fully disclose all sources of income, ranging from real estate to retirement funds and investments. Failing to disclose these could lead to legal troubles and long-lasting disputes.

Does Tennessee need shared custody laws?

Many Williamson, Tennessee, residents are aware of the fact that divorce laws vary from state-to-state. There are states, like Tennessee, that require both parents to create a parenting plan that may set up a primary residence for the child and a visitation schedule for the non-custodial parent. Despite these differences, child custody decisions are typically based upon the best interests of the child.

With regards to child custody laws, there have been an increasing number of state lawmakers who review their laws. This happened after advocates argued that divorcing parents should have equal custody of their children. In fact, the Tennessee General Assembly considered a bill in 2010 where a court would order equal parenting time for divorcing parents. Unfortunately, this bill failed after it reached the legislative session.

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