Sadly, divorces are not uncommon in Tennessee. While there are many reasons that a marriage can fail, how to successfully navigate out of one may be a mystery to many would-be divorcees. Overall, you should exhibit some caution. Mistakes you make during divorce proceedings can come back to haunt you. This certainly includes divorces in which one spouse makes more money than the other.
How assets are divided in Tennessee divorce
Divorce is not the same in all states. If you think you know how assets are divided in Tennessee due to portrayals in the media, you are probably mistaken. Tennessee is what is called an equitable distribution state. What this means is that property that is deemed as marital property is divided in a way that is seen as fair and reasonable. It will not mean a 50/50 distribution in most cases. Different factors will come into play in distributing these assets:
- the length of the marriage
- the health of each spouse
- the earning potential of each spouse
- the liabilities and financial needs of each spouse
- the contribution of each spouse to income and assets
When the wife makes more money than the husband
Due to the fact this distribution is not made based on traditional gender roles, it may have some outcomes that buck the typical notion that the wife always receives the better outcome in divorce proceedings. If the woman in a divorce makes more money, that will certainly be factored into the equation by the judge and the other side’s legal team. The result of the female divorcee paying alimony to her ex-husband is not out of the question.
Navigating divorce as a high-income spouse of either sex can be difficult. Consider your options with your attorney. This may mean not insisting on keeping the house or a vehicle. Assets as large as these can have a big impact on negating the possibility of paying alimony. Ensure you have a strong understanding of all aspects of your financial situation, and make sure you can prove that assets you want to keep are not marital property.
Overall, divorce can be tough for all involved. The spouse with the higher income can expect to lose more in divorce proceedings in Tennessee. However, with some legal strategy, the outcome does not have to be as disastrous as you fear.