Division of Assets
Nashville Attorney Penny Harrington:

How much is really negotiable in the divorce property settlement?

During the process of divorce, even the most cooperative couples will at some point disagree about the division of marital property. It may be a question of who gets the silverware, or how a retirement fund will be divided. Whether the dollar value is large or small, emotions can easily overtake reason.

If you are involved in a divorce, it is important that you find a lawyer who will help you work through the issues in a reasonable manner, avoiding unnecessary and expensive battles. If you would like to discuss division of marital assets with Nashville lawyer Penny Harrington, contact Harrington Law Office and make arrangements for a consultation.

Marital assets, personal property, how do I know?

When helping a client begin negotiations regarding the divorce property settlement, Davidson County attorney Penny Harrington first helps the client clearly identify all assets, debt, and personal property and sort them into two groups: those which are clearly identified by law as belonging to one spouse or the other, and those which are negotiable.

As a Tennessee Certified Rule 31 Family Law Mediator she is often able to help her client work with the spouse and work out a Marital Dissolution Agreement (MDA), a contract that, in addition to establishing agreements on child support and a parenting plan details the post-divorce ownership of every item, down to that special blue platter. Avoiding a court battle preserves the couple’s total assets, benefiting both spouses.

What types of assets are involved in the division of property?

Any asset and any debt acquired during the marriage, unless it was an inheritance or gift to one spouse, needs to be divided. Formal appraisals often are used to determine the value of real estate, retirement funds, some with a Qualified Domestic Relations Order (QDRO), and collectors’ items. Lesser personal property items, including automobiles, furniture, and difficult issues such as pets are usually worked out in negotiations or mediation.

What about alimony?

As one of the authors of the Tennessee Bar Association Alimony Bench Book (guidelines for the court to consider when determining alimony) lawyer Penny Harrington knows what the most favorable terms possible are for her clients in light of income, need, and other factors, and works to see that those terms are reached. If you would like to discuss your situation with Ms. Harrington, contact the firm’s Nashville office.

The process of division of assets, Nashville attorney Penny Harrington realizes, can be a trap- a couple can easily reduce the value of the marital estate through an expensive court battle. She helps clients realistically negotiate whenever possible. The Davidson County firm’s office is conveniently located in the West End of Nashville, where it serves clients from communities including Franklin, Hendersonville, Gallatin, Mount Juliet, and Dickson. Free parking is available, and the firm accepts credit cards for payment.