If you are going through a Tennessee divorce, there are specific guidelines when it comes to property division. Tennessee is an “equitable distribution” state. Equitable distribution means a judge will consider:

• What each party brought into the marriage, their contribution.
• Each spouse’s needs and capability of providing those needs.
• Amount of social security benefits for each party.
• Retirement benefits for each party.
• The length of the marriage.

The split in property is according only to marital property. Community property is not recognized in the state of Tennessee. This means what you acquired together is all the judge will consider in the split. What you owned previous to the marriage stays yours when you leave. Following is a list of community property you will keep in a divorce in Tennessee:

• Any property you owned before you were married.
• Any property you acquired in exchange for other property you owned before you were married.
• Any capital gains and/or appreciations on property owned before you were married.
• Any civil damages from civil suits you were awarded before you were married.
• Any property inherited or gifted to you before you were married. This holds true even if your spouse is the one who gifted you the property.

It is possible to come to full agreement with your spouse however, there are stipulations. Following are a few stipulations that must hold true in order to avoid a judge deciding your split in property:

• You and your spouse must agree with everything when deciding the split in property.
• You must not have minor children.
• You must not be pregnant.

In complicated situations with many types of assets an outside appraiser may be hired. The appraiser will determine the value of the estate. State laws are constantly changing so it is important to consult an attorney immediately when deciding to move forward with a divorce. Contact us immediately to discuss your Tennessee divorce.