Tennessee residents seeking a productive and amicable way to divorce may find mediation to be the best solution. As the Huffington Post explains, mediation is a process separate from the judicial system, where a single, impartial third party attempts to resolve the matter between two or more contesting parties. Unlike a judge, a mediator cannot impose a solution. It’s up to the parties to mutually agree on how to end their dispute. However, a mediator may help guide the parties toward a productive solution.
Tennessee divorce: fault versus no fault
Separating from your significant other in Tennessee can be difficult, especially if you have lived together for a long period of time. While married couples may have the benefit of a prenuptial agreement to reduce stress during divorce, unmarried couples who have spent years living together will have to divide property without this help. Luckily, cohabitation property agreements can make the process simpler and help you avoid lengthy legal battles.
If you live in Tennessee and have made the decision to separate from your spouse, you may be considering your options and trying to determine whether mediation may make sense for you. Rather than each spouse having his or her own attorney working on their behalf, mediation involves taking more of a joint approach to the situation. Typically, it involves having you and your spouse sit down with an unbiased, uninterested third party to work out matters concerning asset division, child custody and visitation, and so on.
If you have filed for divorce in Tennessee, you likely have a number of issues to negotiate when creating a divorce settlement. One of most difficult tasks to accomplish may be division of property. It may be hard for some people to part with property, assets and possessions that they have accumulated throughout years of marriage. It is important to educate yourself on the differences between marital and separate property in order to ensure you get everything you are entitled to in the divorce settlement.
When a divorce becomes imminent in Tennessee, it is no surprise that spouses may have many questions about how their assets may be affected, especially if they are to ultimately be split between each other. If you are in this situation and you have an employer-sponsored 401K retirement account, you may be especially concerned about preserving your hard-earned retirement savings. If so, you will want to know about the qualified domestic relations order.
As many Knoxville couples going through divorce already know, the road to a split can be rocky and rough. This is why, at the Law Office of Meghan A. Bodie, we strive to provide you with as much information as possible upfront so you can prepare yourself for the potential hurdles ahead.
Many Tennessee residents these days find themselves faced with the possibility of splitting retirement account assets when getting divorced. Even though such accounts are held in one spouse's name only, Forbes reminds people that these assets are very commonly considered part of a marital estate.
Whether you're the one paying or receiving alimony, you'll want to make sure you keep careful records. There are a few good reasons to do so. For the person paying alimony, the total of the payments is tax-deductible at the end of the year. For the person receiving alimony, those payments will be considered income by the IRS, and you'll need to pay taxes on it. Also, you'll want to keep good records in case your ex-spouse claims they paid and didn't or your ex-spouse claims they never received payment but did.
A lot of people who want to dissolve their marriage think that there's only one option: divorce. While this is by far the most common means to split, there is also the possibility of getting an annulment. Both annulments and divorces do the same thing, but there is one important difference. In a divorce, your marriage is recognized as valid whereas an annulment erases all evidence of the marriage. Essentially, getting an annulment will make it look like you were never married.