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 an experienced 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.
Marital Dissolution Agreements in Tennessee
Marital dissolution agreements (MDRs) set out provisions regarding the couple’s reason for a divorce, 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. 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.
Our Tennessee Marital Settlement Agreement Lawyers are Here to Help
Important decisions regarding your future should be carefully considered, and they may require an outside viewpoint in order to reach a resolution. The marital settlement agreement lawyers 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. If you are thinking about initiating divorce proceedings, or you cannot come to an agreement with your estranged spouse, contact us to set up an appointment to discuss your options.