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Property division: often a top-tier divorce concern

Most people in Tennessee and elsewhere care about money.

In fact, they care about it a lot and should be able to freely state that without having concerns that others might regard them as being overly fixated on material things and shallow regarding important issues in life.

After all, money is an important issue in life, and it's hard for reasonable and hard-working people to forget that for even a moment. Without assets on hand, a loving parent might be starkly challenged in caring for a child. Money pays the rent, puts groceries on the table, clothes loved ones, provides for transportation, safeguards families through insurance coverage and defrays medical expenses.

For eminently understandable reasons, assets are often a big deal during the divorce process, with decisions surrounding them routinely having huge implications for the future.

Divorcing parties rightly have a strong focus on property's equitable distribution, especially when a marriage has endured long enough to result in an accumulation of assets that is both sizable and diverse.

It is not at all uncommon in a Tennessee divorce for couples to focus upon company-sponsored retirement accounts (e.g., 401(k) holdings, pensions, stock options and bonuses), bank accounts, a home (and sometimes more than one piece of real estate) and various types of personal property. Additionally, stocks, bonds, heirlooms, a family business and other diverse holdings can add to the picture.

In sum, the identification, valuation and fair distribution of marital assets can be a cumulatively complex exercise, especially when -- and this does happen -- one spouse is less than cooperative in the process.

Given the important and complex nature of divorce-related property division, many soon-to-be ex-partners fully appreciate the assistance that a proven family law attorney can provide in promoting a transparent and fair outcome.

When your money and other assets are at stake, that help can prove to be vitally important.

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Law Office of Sam Byrd
3828 Dayton Blvd
Chattanooga, TN 37415

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