Skilled Tennessee divorce lawyer, child support attorney located in Knoxville, TN here to answer your questions.
If you are currently searching the internet for information regarding Tennessee divorce and family law matters, you're probably currently going through some distressing times with difficult decisions to make.
As Tennessee divorce lawyers and family law attorneys we understand the issues your facing, that is exactly why the we created this website, a collection of information, content, as well as viewpoints from folks just like you, facing the same issues you are.
Nevertheless, the teachings discovered here make up only a portion of the answer. To actually proceed carefully through the difficult times in front of you, you will need the assistance of a group of zealous, understanding Tennessee divorce and family law professionals in your corner. Individuals who comprehend the scale of your difficult issues and will develop plan that will allow you to take the appropriate steps to better your life.
We bring more than just compassion to the table. In addition we provide unparalleled legal expertise, hard-nosed negotiating abilities and experienced advice.
Divorce: Marital Dissolution Agreement
Alimony: Pay attention to the tax treatment of each form of alimony. See the Alimony section.
Bankruptcy : Include a provision that gives you as much protection as possible in the event your spouse declares bankruptcy.
Business Valuation and Liabilities: Who will own the business and be liable for its debts.
Primary Residential Parent/Custody and Residential Time: The more detailed the terms of the agreement, the better it will work for both parties. (Included in the permanent parenting plan.)
Child Support: How much and when are the payments due? Who has the right to the dependency exemption and credits? (Included in the permanent parenting plan.)
Debt and Credit Cards: Future credit worthiness is very important. Protect against loss of good credit by good planning today. Do not let the soon-to-be ex-spouse run around town running up your credit cards. Run your own credit report to find out if there are any credit cards in your name of which you are unfamiliar. List all details about future responsibility.
Educational Trusts: A few thousand dollars down and a hundred or so dollars a month in a mutual fund over ten years will go a long way to make sure a child gets a college education. Once in place, grandparents may even contribute to a college educational trust. (Included in the permanent parenting plan.)
Health Insurance . Very important. Learn about your health insurance COBRA rights and obligations as soon as possible. To continue your health insurance through your spouse's employer, notice of the divorce must be provided within a certain time frame. Learn all of the particular requirements. Deadlines are subject to change as laws and insurance policies changes. Certain forms may be required. Obtain them. If you have any questions, ask your attorney for assistance and advice.
Attorney's Fees and Court Costs: Who pays how much?
Life Insurance: Consider at least $250,000 per child for each divorcing parent. College is expensive. Life insurance can also insure future alimony payments.
Personal Property: Most often, the parties will divide the property in advance or list how assets are to be divided. See the Property Division section.
Real Estate: If you do not keep the house, you will not want to be potentially liable for mortgage payments on it five years from now in the event your spouse chooses not to pay his or her obligations.
Retirement Investments: Depending on the type of asset, the division can either be very simple or very complex. Often, retirement investments are the largest assets to be divided. Valuation is the key. Even though a monthly pension benefit statement states that accrued benefits are a certain amount, the valuation of the pension benefits for purposes of the divorce may be much greater. Tax implications are also very important.
Taxes: Who pays what and when?
Wills and Trusts: Be careful that you do not die five days after your spouse remarries and a trust you created ten years ago pays for the honeymoon because you did not amend your trusts.