Dividing marital property during a divorce involves added complexity when a family business is part of the equation. Family businesses often carry significant value and emotional attachment, which makes dividing them a challenging task. Determining whether the...
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Property Division
What are the implications of dividing a family-owned business?
Divorce is challenging, especially when family-owned businesses are involved. Dividing this type of asset can complicate the process, requiring careful planning and understanding. This blog discusses the key implications of dividing a family-owned business during...
Green assets and divorce in Tennessee
Divorce involves dividing assets between partners, and as people have become more environmentally conscious, the concept of green assets has emerged. Green assets are becoming more common in Tennessee homes, and it is important to understand how they can affect your...
What divorcing retirees should know about asset division
Divorce can be tricky, especially for retirees in Tennessee. They may no longer work but may have substantial savings, real estate and stock brokerage accounts. Understanding the nuances of asset division during divorce is important for these seniors. Retirement...
Who gets the vacation home after a divorce?
Dividing assets during divorce can quickly become contentious, even when the process starts amicably. Usually, each spouse not only wants a fair monetary share but also desires to hold onto items for sentimental reasons. One such piece of property for well-to-do...
How to handle a mortgage during a divorce
Lending Tree reported mortgage debt as of 2023 in the U.S. was $12.01 trillion. Many couples going through a divorce share a mortgage, making it one the major financial aspects to address Handling a mortgage during a divorce requires careful planning and...
Should you keep the investment properties in your divorce?
Going through a divorce is challenging, especially when it comes to dividing marital assets. One of the more complex aspects can be the division of investment properties. Should you fight to keep them or let them go? In Tennessee, the courts aim for an equitable...
Who gets the pets in a Tennessee divorce?
Many people view their pets as members of the family. However, when it comes to the law, most states treat family pets as property. Who gets the pets when a married couple divorces in Tennessee? Tennessee law Though lawmakers recently proposed a bill to begin...
Can you expect to get half during a divorce?
A significant issue during divorce that needs resolving is how to divide money, property and debt between the couple. If you assume you will get half, you may want to reset that expectation. Tennessee is not one of the nine community property states, instead favoring...
What should I know about intangible assets?
The assets of your family business help determine its value. In the event you go through a divorce, you may sell your business to divide its value between you and your spouse. You should determine if your company has intangible assets. Tangible assets such as...
