Five Tips for High Net Worth Divorce in Tennessee

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Five Tips for High Net Worth Divorce in Tennessee

Divorce happens. The Tennessee Department of Health, 1,159 couples filed for divorce in Williamson County alone in 2019. The more assets that you have, the more challenging that a divorce can be. Indeed, high net worth couples are at a higher risk of getting locked in a lengthy divorce dispute. At Campbell Perky Johnson, PLLC, we are committed to helping people solve family law problems—including in high net worth divorce cases. Here, our Franklin divorce lawyer highlights five tips for navigating a high asset divorce in Tennessee.

1. Make Sure You Have a Full Understanding of All of Your Property and Assets

A comprehensive knowledge of your entire asset portfolio is the cornerstone of navigating a high net worth divorce. Among other things, this includes real estate, investments, business interests, and any unique or valuable personal property. Notably, Tennessee operates under the equitable distribution principle. Assets are divided fairly—though not always equally.

2. Carefully Organize Financial Documents and Records

Organization is key to handling a family law matter. Make sure you have access to all of your financial records—including  bank statements, tax returns, investment records, and any other documents that verify your assets and liabilities. Organizing these documents early, you can expedite the process and put yourself in a better position to achieve a more favorable outcome.

3. Consider Spousal Support (More Likely to Be an Issue in High Net Worth Cases)

In high net worth divorces, spousal support (alimony) can become a major issue. While alimony is not awarded in every case in Tennessee, it is far more likely to be granted in a high net worth divorce case. Given the higher stakes, negotiating spousal support requires strategic planning. Have questions about alimony? An experienced Franklin, TN divorce attorney can help.

4. Seek Professional Legal Representation as Early in the Process as Possible

Specialized legal guidance is indispensable in high net worth divorces. Engaging an experienced Tennessee divorce attorney who understands the nuances of managing substantial assets can make the difference. Your attorney can protect your rights and help you effectively get through the financial aspects of your divorce so that you can get your full and fair share of the property/assets.

5. Do Not Neglect Non-Financial Matters (Child Custody, Visitation, etc)

Even for high net-worth couples, divorce is about a lot more than the finances. While financial considerations are always important, it is also vital not to overlook other aspects of divorce—from your emotional needs to practical issues such as child custody and visitation. A comprehensive approach to the divorce process is essential to get the best outcome for yourself and your future.

Contact Our Franklin, TN High Net Worth Divorce Lawyer Today

At Campbell Perky Johnson, PLLC, our Franklin high net worth divorce attorneys are skilled, experienced, and solutions-focused advocates for clients. If you have any questions about a high net worth divorce, please do not hesitate to contact us today for a confidential consultation. We provide high net worth divorce representation in Franklin and throughout Williamson County.