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When you and your spouse file for divorce, one of the most important factors you must consider is how you are going to divide your marital assets. In Tennessee, the courts will adhere to the equitable distribution method of dividing property, which uses statutory factors to determine how much each spouse should receive. However, if you and your spouse want to handle this matter on your own, one such option you may wish to consider is mediation. This provides a less aggressive approach than traditional litigation. As such, this allows you and your spouse to have increased control over the outcome of your divorce, rather than relying on a judge to determine these matters for you. Understanding the factors you should consider during mediation in Clarksville and the surrounding Montgomery County areas is critical to ensure you can receive a fair and sound outcome.
For couples in Clarksville and throughout Montgomery County, Tennessee, divorce mediation is a method commonly used to settle disputes without the intervention of the court. Mediation is an alternative divorce method that allows you and your soon-to-be-former spouse to settle your child custody, child support, spousal support, and asset division terms entirely on your own. The only outside intervention, if you can even consider it as such, is guidance from a neutral, third-party mediator.
While this alternative method is appealing, not every couple is equipped for it. But all power to you if you and your former spouse can put your differences aside for the time being to civilly negotiate a fair way to divide your marital assets.
Unlike litigation, mediation provides a more flexible, confidential approach that gives you and your spouse increased control over the specific outcomes of your divorce, rather than relying on a Montgomery County judge to apply statutory standards to your case.
Especially if you and your former spouse have been married for a long time, or you otherwise consider yourselves to be a high-net-worth individual, it may be difficult to split your marital assets fairly and justly. It may not be as easy as taking turns, hand-selecting which assets you wish to keep.
These asset division factors in Tennessee divorce mediation are critical for determining a fair outcome, especially when handling important assets like real estate, retirement accounts, and complex financial assets like businesses or investment portfolios.
One of the most important assets for Montgomery County couples is the home they share. Unfortunately, it is impractical for divorced spouses to share the home, so understanding common options used to divide these assets in mediation is critical if you find yourself unsure of how these assets will be handled. Though this property may carry considerable sentimental value, it’s important to remain objective and practical when examining whether or not you should retain the property during your divorce.
Understandably, money matters may be neither your nor your former spouse’s strong suit. But you may still strive toward making these asset division decisions your own, rather than leaving them to the discretion of a Tennessee family judge in litigated divorce proceedings.
If you and your spouse have decided to divorce but want to avoid contentious litigation, mediation may be in your best interest. To learn more about handling your mediation sessions, please contact one of the talented Clarksville family lawyers from Fendley and Birch. Better yet, schedule your initial consultation with our firm today.
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