Marital Settlement Agreements
The logistics of ending a marriage may involve important decisions regarding asset division, custody arrangements, alimony or child support payments, and all of the paperwork that goes into those decisions. Sometimes these agreements may be settled amicably between two like-minded parties. However, at other times, retaining a divorce attorney is necessary to make sure that a family’s best interests are served. The Nashville marital settlement agreement lawyers at Martin Heller Potempa & Sheppard PLLC assist clients in negotiating and executing marital settlement agreements that are fair to the parties involved. Our firm is dedicated to making sure that divorce proceedings are carried out smoothly, aiming to avoid excessively costly litigation. If you need help with issues regarding a marital settlement agreement or another type of family law matter, contact our office today to learn more about the process and how we can help.Tennessee Marital Settlement Agreements
Divorce, or marital, settlement agreements in Tennessee are known as marital dissolution agreements, or MDRs. These documents set out provisions regarding the couple’s reason for divorcing, property division and distribution, alimony, and child custody and support. Each of these provisions requires a detailed analysis of their meaning and eventual consequences. For instance, when determining spousal support, an individual should take into account the tax implications, what may be required for modifications to be made, and how long such payments should be made and in which amounts.
Marital property in Tennessee is subject to equitable distribution, which means that when courts are involved, they consider factors related to each spouse, such as age, health, what they have contributed to the marriage, and the duration of the marriage, in determining what is fair. The marital settlement agreement attorneys at our Nashville firm can explain how these factors may affect your situation. Closely held or family businesses may also need to be addressed in an MDR. Valuing these businesses often requires accounting expertise, which factors in a business’ earning history, its potential for growth, and its reputational assets. Credit considerations should also be weighed, and divorcing spouses may want to run credit reports to make sure that all outstanding debt is known so that it can be taken into account. When children are involved in a divorce, marital settlement agreements must include a permanent parenting plan. These plans set up a schedule regarding custody arrangements as well as identify who has primary decision-making power with regard to a child’s education, health, and similar issues.
Once understandings regarding these and other issues are reached, the marital settlement agreement must be filed with the court. If the parties cannot come to an agreement, court involvement may be necessary to resolve the contentious points. However, under Tennessee law, parties are required to participate in mediation before being allowed to initiate formal court proceedings. Mediation utilizes the services of an impartial mediator who conducts conversations in an informal setting to try to find solutions that serve each party’s interests and goals. When a couple is at a standstill, experienced legal guidance may be helpful to move the process along.Seek Counsel from a Marital Settlement Agreement Lawyer in the Nashville Area
Important decisions regarding your future should be carefully considered, and they may require an outside viewpoint in order to reach a resolution. The family law attorneys at Martin Heller Potempa & Sheppard PLLC are experienced in helping clients reach satisfactory marital settlement agreements that ensure that their futures stay intact. The decision to seek a divorce is never easy, but our firm is dedicated to making sure that the legal process goes as seamlessly as possible. Our Nashville marital settlement agreement attorneys offer seasoned and compassionate legal guidance to people throughout Davidson and Williamson Counties, including in Franklin, Sylvan Park, East Nashville, Cool Springs, and Belle Meade. If you are thinking about initiating divorce proceedings, or you cannot come to an agreement with your estranged spouse, contact us online or at 615-800-7096 to set up an appointment to discuss your options.