Dividing Tangible Personal Property (aka “the Stuff”) in Tennessee Divorce

Dividing Tangible Personal Property “the Stuff” in Tennssee Divorce.

Separation of assets can be one of the more challenging parts to ending a marriage. Although the courts can make that decision for you, it is often best to do this together. Of course, this doesn’t mean you have to do it alone. Consulting with divorce lawyers at Miles Mason Family Law Group in Memphis can help make sure you are legally protected.

Don’t go into this with a “me” mentality. You can come up with a fair way to distribute your property while still maintaining your rights to what is yours.

The following are ways you can work together to make separation of assets fair: 

• take the time to write a list of things jointly owned;
• indicate the items with which you are willing to part;
• attach a value to each item to make sure both get a fair share of the property;
• if you both want an item, see if there is a trade-off with another item that will make the division fair; and
• don’t allow negative emotions to affect what should be a fair division of property.

With Tennessee being an equitable distribution state, it means what you acquire during your marriage becomes the property of both. If dividing assets in a divorce, including retirement accounts and other financial assets, isn’t something you can do amicably, then a court can step in to help with the divisions.

Seeking Legal Help for a Divorce

The decision to get divorced is never an easy one. But you aren’t alone. In fact, according to a U.S. Census report, Tennessee was one of the states with the highest divorce rates in 2009 at 11.4 per 1,000 men and 11.6 per 1,000 women.

To learn more about your rights and for help with property division, contact a lawyer at Miles Mason Family Law Group. For a free consultation, call us today at 901-683-1850 to discuss separation of assets in a divorce.