A high-asset divorce in Tennessee can come with quite a bit of stress, in large part because the term “equitable distribution” applies to the property and debt division process.
If you are facing a divorce case, it is important to understand what this term means and how it might impact your present and future.
Equitable distribution defined
The most common word our readers will see in any definition of equitable distribution is the word “fair.” The idea of equitable distribution is that property and debt will be divided between the soon-to-be ex-spouses in a way that is fair – but that is still based on a variety of factors, and obviously quite subjective.
The contribution of each spouse to the accumulated assets and debts of the marriage is one such factor, as is the earning potential of each spouse and how, upon division of assets, each spouse will be situated from an economic standpoint, among other factors.
Simply put, if a person in Tennessee is going into a divorce thinking that there will be an equal or 50/50 split of assets, that is not usually how it happens.
And when there is a high amount of assets involved in a case, the anxiety really kicks in for divorcing spouses.
As our readers can probably imagine, this principle of equitable distribution can lead to some complex, high-conflict divorce cases in Tennessee. After all, most married couples spend years working together to accumulate assets to build their wealth. When that is threatened by the marriage ending, most spouses want to fight for every bit of what they think they deserve.