Asset Division Attorneys in Nashville, Tennessee

When getting a divorce, asset division becomes one of—if not the most—contentious issues. And no wonder why. No one wants to give up an asset they worked hard to acquire. While it is understandable that no one should be willing to end their marriage with less than their fair share of assets, divorcing spouses may have different opinions regarding what’s fair.  

Attorney Frank Brazil at Brazil Clark, PLLC, understands the emotional and financial challenges that arise when dividing assets in divorce. As an asset division attorney in Nashville, Tennessee, with years of experience, Attorney Frank Brazil knows how to position his clients for success through out-of-court negotiations or skilled courtroom advocacy whenever necessary.  

Tennessee Is an Equitable Distribution State: What Does It Mean?

Tennessee follows the doctrine of equitable distribution, which focuses on a fair (not necessarily equal) division of assets. This approach considers each spouse's financial situation and contributions to the marriage, among other factors. This approach aims to ensure that both parties receive a fair share of marital assets, reflecting their contributions and needs. 

What’s the Difference Between Marital and Separate Assets?

In divorce, the couple’s assets are categorized into marital and separate:  

• Marital assets include property and income acquired during the marriage, regardless of whose name is on the title; and  

• Separate assets are those owned by one spouse before the marriage or acquired individually through inheritance or gifts. 

As a Nashville family law attorney, Frank Brazil guides clients in identifying which assets fall into each category, as it profoundly impacts the division process. Correctly categorizing assets ensures that separate properties remain untouched and that marital assets are fairly distributed. This clarity can prevent disputes and streamline negotiations, ultimately leading to a more amicable resolution.

Who Gets the House?

Determining who retains the family is usually one of the most contentious asset division issues in divorce. A number of factors affect who gets the house, including the financial situation of each spouse, custody arrangements, and each party's ability to maintain the home. Attorney Frank Brazil works diligently to negotiate favorable outcomes for his clients. 

Who Determines How Assets Are Divided? 

In uncontested divorces, spouses agree on asset division, allowing for a smoother process. In contested cases, however, the court intervenes to allocate assets. Attorney Frank Brazil strives to help clients resolve disputes amicably whenever possible to avoid lengthy courtroom battles.

When disagreements arise, he advocates for mediation as a means of reaching a consensus. If the court must decide, it will consider the evidence presented and apply the principles of equitable distribution. Frank Brazil’s experience in both negotiated settlements and litigated cases equips him to guide clients through either scenario efficiently. 

Factors Tennessee Courts Use to Determine Equitable Distribution

Tennessee courts consider numerous factors in equitable distribution, including: 

• Length of the marriage 

• Age and health of each spouse 

• Contribution to marital property 

• Economic circumstances of each spouse 

• Tax consequences of asset division 

• Custodial responsibilities of children 

Attorney Frank Brazil leverages his understanding of these factors to advocate effectively for his clients’ interests, ensuring that they receive a fair settlement that reflects the nuances of their marital relationship. 

How Long Does the Asset Division Process Take?

The duration of the asset division process varies based on the complexity and whether the divorce is contested or uncontested. Attorney Frank Brazil aims to expedite proceedings while ensuring a thorough asset evaluation and fair distribution. 

What Happens if the Spouse Is Hiding Assets? 

Suspicions of hidden assets can complicate divorce proceedings. Attorney Frank Brazil employs various strategies to uncover concealed properties, including forensic accounting and comprehensive financial analysis. By scrutinizing financial records and collaborating with experts, he ensures that all assets are accounted for and fairly distributed.

If evidence of hidden assets emerges, the court may impose penalties on the offending party, potentially awarding a larger share of the assets to the other spouse. Frank Brazil’s commitment to transparency and justice drives his efforts to reveal the full financial picture and secure a fair outcome for his clients. 

How Is Debt Divided?

Debt allocation follows the same principles as asset division, considering each party's ability to pay and how the debt was incurred. Attorney Frank Brazil negotiates equitable debt distribution to protect his clients' financial future.

He works to ensure that debt division is fair and reflective of each spouse’s ability to pay. By negotiating terms that account for both parties’ financial futures, he helps alleviate concerns about post-divorce financial burdens. 

Signs You Need an Asset Division Attorney

While seeking legal advice when dividing assets is always a good idea to ensure you’re getting your fair share of property, there are certain situations when hiring an attorney becomes especially crucial. Here are the signs you’re in one of those situations:  

• Complex assets, such as businesses or retirement accounts 

• Significant debt or financial obligations 

• Lack of transparency from a spouse 

• High-conflict divorce proceedings 

• Concerns about maintaining living standards post-divorce 

• Discrepancies in earning capacities between spouses 

Seeking legal counsel from a Tennessee asset division attorney ensures that these complexities are managed with skill and diligence. 

Why Choose Brazil Clark, PLLC?

Brazil Clark, PLLC, stands out for its personalized approach, offering creative solutions tailored to each client's needs. Attorney Frank Brazil is committed to minimizing costs and contention while providing friendly and approachable service.

The firm's recognition for its contributions to the Nashville community further underscores its dedication to client satisfaction and ethical practice. For those navigating asset division in Tennessee, Attorney Frank Brazil at Brazil Clark, PLLC, is a trusted partner in achieving a fair and equitable resolution.