Franklin High Asset Divorce Lawyer

High Asset Divorce Attorney in Franklin, TN

Going through a divorce can easily become overwhelming and confusing, especially when the number and value of assets you need to divide become more complex. Hiring a skilled Franklin high-asset divorce lawyer can help you bring clarity and success to your case. The family law attorneys at Story & Abernathy, PLLP, can provide guidance and support.

An Overview of High-Asset Divorce in Franklin, Tennessee

Before you start looking for a Franklin high-asset divorce lawyer, you may benefit from learning more about how high-asset divorces work, what to expect while going through one, and how finding the right lawyer can help you reduce the level of stress and confusion you may have otherwise encountered with your case.

According to the CDC, approximately 673,989 marriages ended in a divorce or annulment in the United States in 2022. The following year, Tennessee had an overall divorce rate of 2.9, which means that the Volunteer State has a higher number of divorces than many other areas in the country. Some of these divorces are considered high-asset. Simply put, a high-asset divorce often involves complex assets, such as businesses, real estate, and investments.

A skilled Franklin divorce lawyer can help you navigate Tennessee’s equitable distribution laws. The process often requires the careful valuation of all marital property, which includes every asset that was acquired during your marriage, as well as identifying separate property, such as gifts, inheritances, and assets that have been separated by legally binding documents.

Many high-asset couples also need to revisit their estate plans so their wishes remain clear after the divorce, and understanding the repercussions of not having a will can be an important part of those decisions.

In addition, you may need to deal with potential tax consequences, alimony, and, if relevant to your case, decisions about child custody. You may also find that litigation could be required if you cannot settle outside of the Tennessee family court system. If child support will be part of your case, a Franklin child support lawyer can explain how support is calculated and enforced.

Key Aspects of a High-Asset Divorce in Tennessee

Several key factors go into getting a high-asset divorce, including the following:

• Equitable distribution: Tennessee law mandates that marital property, both assets and debts, will be divided equitably, which means fairly but not always equally.
• Complex assets: High-asset divorces typically involve property that is more complex to value and divide, such as:
  • Businesses, professional practices, and partnerships
  • Complex investments, including minority interests
  • Digital and/or cyber currencies
  • High-value collections
  • Intellectual property, such as copyrights and patents
  • Multiple real estate holdings
  • Stock options, both vested and unvested
• Separate property: This addresses assets that have been received as a gift or inheritance by one spouse, as well as those owned prior to your marriage. These assets are often considered separate property and, therefore, are not subject to equitable distribution; however, this can be contested.

Why Should I Hire a High-Asset Divorce Lawyer in Franklin, Tennessee?

There are many benefits that you can unlock when you hire a high-asset divorce lawyer in Franklin, but to understand said benefits, you need to know about the overall legal process.

It is common for the high-asset divorce process to begin with negotiation and/or mediation as both parties work to settle their divorce without court involvement. Having a high-asset divorce lawyer guiding you through can prove to be crucial for identifying, valuing, and working to equitably divide the complex assets involved in your case, all the while doing everything they can to protect your interests.

If a settlement agreement cannot be reached, the case will proceed to litigation. Your lawyer can help you get time scheduled at the Williamson County Judicial Center (Circuit Court Clerk’s Office), where they can help you present your case before a judge, advocating on your behalf and explaining the various steps you may need to take so that your divorce can be finalized.

Choose Story & Abernathy, PLLP, for Your High-Asset Divorce

At Story & Abernathy, PLLP, we believe in helping our clients pursue a case outcome that suits the needs of their family and the goals they have for the future. Our attorneys have decades of combined experience handling family law cases and are Rule 31 Family Mediators. We are prepared to help you work through the various aspects of your case with compassion and personal attention, doing everything we can to help you accomplish your desired outcomes.

FAQs

How Long Will My High-Asset Divorce Take to Resolve in Tennessee?

In the state of Tennessee, the duration of every high-asset divorce case tends to vary due to the unique variables that influence each timeline. Some of these variables include the complexity of your case, the availability of every party involved, and, if necessary, the schedule of your local family law courthouse.

When you hire Story & Abernathy, PLLP, to handle your divorce case, you may find that we can help save you time by preventing unnecessary setbacks and time-wasting confusion.

Is Tennessee a 50/50 Divorce State?

Tennessee is not a 50/50 divorce state. While some states have a 50/50 division law regarding property division, Tennessee has implemented an equitable distribution law instead. This means that, while all marital property is divided fairly, it is not necessarily divided equally.

While Tennessee courts may start the case out with a 50/50 split as a presumption, they will need to consider many additional factors to ensure that the final division is equitable, including health, income, and contributions to the marriage.

Is Hiring a High-Asset Divorce Lawyer Worthwhile in Tennessee?

Hiring a high-asset divorce lawyer can be worthwhile. When you are undergoing a high-asset divorce in Tennessee, there is a lot at stake, which is why many individuals choose to hire a lawyer to handle their case. This can help minimize some of the stress and confusion you may have otherwise experienced. Our clients often find that having our lawyers assisting and guiding them can have a huge impact on their overall experience and the success of their case.

How Much Does It Cost to Hire a High-Asset Divorce Lawyer in Tennessee?

The cost of hiring a high-asset divorce lawyer tends to vary from case to case in Tennessee. This is partially due to the unique impact some consistent variables can have on your final price, including the amount of time your case requires to be finalized, the lawyer you hire to represent you, and the level of complexity your case presents. Still, many individuals have found it to be incredibly beneficial to hire legal counsel.

Hire a Franklin High-Asset Divorce Attorney Today

Your high-asset divorce does not need to be as difficult and overwhelming as it may seem. Contact Story & Abernathy, PLLP, today to schedule a consultation and see what our skilled and compassionate team can do to help you build a new life for you and your family.