When a couple has little or no marital property, no disagreement on children (custody, visitation, holiday visitation) and spousal support/alimony then their divorce usually goes very quickly and is more affordable then a contested divorce.

However, most couples have numerous issues to work out during the divorce process. These issues may involve children or significant property (either Marital property, Personal property, or Real estate). Some people must deal with issues such as family business, large or concealed debts, retirement plans (401K), real property in other states, joint and separate accounts, investments, stocks and bonds, insurance, pensions and other assets. In any divorce, especially one involving complex matters, an experienced family law attorney such as James L. Widrig can offer valuable guidance and advocacy, so call for a consultation.

Certain kinds of issues more often then not create controversy during divorce. Some of these are:

• Family Home. The primary real property owned by the divorcing couple is often the marriage's largest asset. Dealing with its division can be complicated, particularly when there are children involved. Courts often favor allowing the custodial parent to retain the home. Doing so may require complicated arrangements to ensure that the spouse who does not live in the home receives adequate compensation for the home's value, as well as provisions for ongoing mortgage payments, tax liabilities and upkeep of the home. When these issues cannot be resolved, the couple may be forced to sell the home and divide the proceeds.

• Pensions.  A court in a divorce case may enter a Qualified Domestic Relations Order (QDRO) requiring the administrator of the ERISA-regulated pension to make payments to both the worker and the former spouse.

• Family-Owned Businesses and Businesses. When spouses work together in a family-owned business or when a spouse has an interest in a business then division of the business presents complex allocation problem and complex valuation problem. Normally the first biggest question that must be tackled is how much money is the business worth. As with homes, if there are not enough marital assets to compensate the non-retaining spouse adequately then the court could force a sale or long-term buyout.

• Children: which parent has more parenting time with the child/ren and child support are always hard subjects to address for divorcing spouses. For more information just ask Lawyer Jim Widrig and he would be more then happy to explain this more in depth for you.
  

If the parties are not in agreement then the courts must make an equitable division of property during divorce proceedings. An "equitable division" of property does NOT mean equal division of property. The division of marital property must be in a fair and just manner according to the specific circumstances of the divorce/dissolution of marriage. Prenuptial agreements can go a long way toward shaping the outcome of property distribution decisions, so let me know if you have a prenuptial agreement.

Marital Property vs Separate Property

Property that must be divided is "marital property" (i.e. property that was acquired during the marriage) Property acquired before the marriage, property acquired after the divorce and gifts or inheritances received by one spouse during the marriage are not considered marital property.

first the court must decide which property is marital property. Then it must determine the value of the property. Finally, the court allocates the property between the spouses.

What is considered "non-marital property"?
Tennessee calls this separate property. "Separate property" means:

All real and personal property owned by a spouse before marriage;

Property acquired in exchange for property acquired before the marriage;

Income from and appreciation of property owned by a spouse before marriage, except when characterized as marital property by means of another legal theory (ask attorney James L. Widrig if this applies to your situation); and

Property acquired by a spouse at any time by gift, bequest, devise, or descent (which can include gifts from one spouse to another, such as jewelry or a car)

How does the court decide on property division if the spouses have not kept their property separate, but they have combined their ownership or "commingled" the property?
Spouses often commingle their marital and non-marital property. If separate property becomes commingled, it may lose its status and become marital property. This can cause difficult issues for the court. If separate property can be traced easily, the court is more likely to award it to the original spouse. If it cannot be easily traced, the court is less likely to award it as separate property. Even if a court finds the property was once separate but became marital property, the court will consider other property division as part of the equation and look to make an equitable distribution.

Is a professional license or degree an asset subject to valuation and division?
No. The license or degree itself cannot be divided. The professional practice or certain assets contained therein could be subject to valuation and division in certain circumstances.