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Property Division Archives

Can my soon-to-be ex-spouse take part of my inheritance?

A sudden influx of inherited money is a boon for all families. However, what will happen to your inheritance in the event you get a divorce? Will you get to keep the entirety of your inheritance? Will your ex-spouse take part of these assets? The answers to these questions may be different depending on what you did with the inheritance after receiving it.

When does financial trouble cause divorce?

Imagine you are slaving away at your "9-to-5 job," which has actually become a "7-to-8" job as you struggle to connect the financial dots for your family. Meanwhile, your spouse is at home, jobless and perhaps even suffering from a drug problem or psychological issues. The financial reality of this situation is a very difficult one to be in. For many marriages, it's too much to bear and ultimately results in divorce.

What are some upsides to a prenuptial agreement?

Last week, we discussed some of the downsides related to prenuptial agreements. This week, we're going to cover the upsides. Indeed, it's precisely because of the numerous benefits associated with premarital agreements that spouses choose to draft and sign these documents.

What are the downsides of a prenuptial agreement?

If you're thinking about a prenuptial agreement, you might want to educate yourself, not only on the upsides of signing this kind of document before marriage, but also on the downsides. Ultimately, when it comes to any kind of legal arrangement – including marriage – you should know exactly what you're agreeing to and what kinds of future ramifications it may have on you and your life.

Tips for surviving the financial aspects of divorce

There are a lot of money-matters that divorcing spouses need to attend to. These financial responsibilities might not have existed prior to the initiation of the divorce process. As such, it is important to familiarize yourself with various tips and tricks for surviving the financial aspects of divorce.

How does a home get divided in a divorce?

Divvying up the family home is never easy in a divorce. Both spouses will likely be emotionally attached to the residence, and neither of them may want to give up the property. Will one spouse keep the property and the other spouse move out? Will the property need to be liquidated and the proceeds divided?

Don't forget these assets when dividing marital property

Divorcing spouses commonly make costly mistakes when they're dividing their marital estates. One big mistake is to assume that just because one spouse identifies with a certain piece of property that it belongs to him or her. In fact, all marital property acquired during the course of your marriage must be divided between the spouses except when it comes to certain exempt property.

Property division: What if I owned my home before marriage?

Owning your home before your marriage does not guarantee that you'll keep it during your divorce. However, it could help you keep it if the facts of your circumstances support such a result under Tennessee law. Let's take a closer look at homeownership and how a pre-marriage home could stay in the hands of the spouse who previously owned it.

How do you determine the value of your business in divorce?

When you're getting a divorce as a business owner, you need to determine the value of your business for the purpose of asset division. Knowing what your business interests are going into your divorce negotiations will help you determine a fair and equitable buyout under the law.

What is exempt from marital property division?

The decision to divorce isn't easy -- especially when you've been married for a long time and have a great deal of shared assets with one another. You and your spouse will need to divide your assets by determining what assets are legally divisible as a part of your marital estate and what assets are not considered a part of the marital estate.

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