Factors Used to Determine Division of Marital Property Under Tennessee Law

Ending a marriage presents numerous challenges. Dealing with the end of a romantic relationship can cause serious emotional strain. Parents who divorce must negotiate custody and visitation arrangements so that their children can grow up in a supportive environment even when all family members no longer reside under the same roof. Divorce is a significant financial event, as well. Marital property that has been acquired by either spouse since the date they were wed must be distributed among them as they go their separate ways.

Often, couples are able to reach terms on the division of assets and debts through negotiation. Sometimes, a neutral mediator is brought in to help the parties achieve consensus. When no settlement is forthcoming, a court decides on the disposition of marital property through Tennessee’s equitable distribution law. The outcome is based on what the court believes to be fair. Value does not have to be split equally among the parties. 

Before the court allocates assets and debts, it classifies what is marital versus separate property. Then, the court weighs a set of statutory factors to reach a fair division tailored to the couple’s circumstances, such as:

• Duration of the marriage
• Each spouse’s age, along with their physical and mental health
• Each spouse’s earning capacity, which can be assessed by examining their vocational skills, training and experience
• Each spouse’s contribution to the acquisition, preservation and appreciation of marital assets, with equal weight is given to wage earners and homemakers who fulfill their roles
• Support provided—financial or otherwise—so one spouse could complete a degree, licensing or career training
• Separate assets of each spouse that might allow a husband or wife to support themselves financially regardless of their property division share

Applying these factors is fact-intensive. Evidence such as financial statements, employment records and expert valuations can be critical. 

Contrary to what some people might believe, equitable distribution decisions typically do not involve consideration of which party is to blame for the divorce. However, if a spouse engages in financial misconduct, or dissipates marital assets in order to carry on an affair, that could affect the outcome. 

The Collierville Law Firm provides advice and advocacy to West Tennessee residents on a wide range of family law matters, including the division of property that occurs during a divorce. To set up a free initial consultation regarding your specific legal needs, please call 901-614-0318 or contact us online.