When you are going through a divorce, you need to prepare yourself to have to discuss several different factors. If you know what factors are going to come into the picture during your divorce, you can think about them ahead of time so that you can be prepared for the issues that might come up.
One of the most misunderstood things about the property division process is what counts as community (marital) property and what is considered separate property. The state of Tennessee is an equitable distribution state, which means that it is up to the judge to decide how the assets will be split between the two parties. It's also important to note here that equitable does not always mean equal. In fact, how the property is divided often depends on things like which spouse earns more, who has the higher earning potential and who will be the residential parent and main custodian for the children.
If you and your marriage partner feel comfortable with the idea, a prenuptial agreement is a great idea for every marriage, no matter how wealthy the individuals happen to be. The fact is, prenuptial agreements just make sense and if two people joined in matrimony truly love one another, they will want to ensure that if a divorce becomes necessary, it will be handled easily, quickly and peacefully. This is exactly what a prenuptial agreement can achieve.
Going through a divorce is something that can easily try your patience. While you might be ready to be done with your ex for good, if you have property together, you have to deal with that ex so that you can divide the property. The good news is that there are options that you have for doing this that might make the whole property division process easier.
If you or your spouse have retirement accounts and are going through a divorce, you might consider the possibility of seeking a qualified domestic relations order. A QDRO outlines how retirement accounts are going to be distributed, even if the distribution will occur in the future.
Property division is an issue no divorced couple can escape from. While some couples may have a prenuptial agreement that makes things more straightforward, others may be locked in a dispute over who gets what for months. During a time when it feels like everything you know is changing, it's normal to want to hold on to the property and assets you've acquired during your marriage.
Recently, celebrity couple Jennifer Garner and Ben Affleck announced their plans to divorce. The announcement came just one day after the couple's 10th wedding anniversary, which has led to speculation that the timing may have had to do with California's 10-year rule when it comes to determining spousal support. However, others are wondering if it might be because of a clause in a prenuptial agreement.
Getting divorced is undoubtedly one of the most difficult and stressful events a person can go through. If you are considering divorce or may be headed for one, chances are you are overwhelmed with feelings like anxiety, anger, fear, confusion and sadness. These feelings can make it all but impossible to have a clear understanding of your rights and options.