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...
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Property Division
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...
What you can do to divorce-proof your business
Your business is likely an important part of your livelihood. It is in your best interest as an entrepreneur to take every precaution in ensuring that operations can always proceed unimpeded, and that may include divorce-proofing your business regardless of whether or...
When might you need a forensic accountant in a divorce?
Dividing assets in a divorce can be contentious and complex. In Tennessee, the court must divide marital property equitably, which requires a thorough inventory of your assets. Forensic accountants analyze financial documents and transactions to uncover important...
What are examples of IP in the family business?
If you and your spouse made it big with a family business, your divorce may seem more complicated than others. Dividing up a marital company involves examining business assets, documentation and determining the financial futures of yourselves and any employees. It is...
3 ways to protect your estate after remarriage
When you remarry after divorce, you should reevaluate your estate plan. Without a plan in place, your new spouse inherits a minimum of one-third of your assets if you have children from a previous marriage. While your new spouse might intend to honor your wishes about...
Your business will be the focus among the assets in your divorce
The family business will likely take the spotlight during the property division phase of your divorce. The question is, what will become of the company you and your spouse built together? There are three basic options to consider. 1. Sell the company Putting the...
