Negotiated Divorce Settlements in Franklin, TN
When collaborative divorce isn’t the right process for a family, we still strongly encourage clients to resolve their disputes in an amicable proceeding outside of court by reaching a negotiated settlement. We can help you in the process, as your attorney and advocate.
What Is a Negotiated Settlement?
Negotiated settlements can be reached when both parties desire an amicable divorce and feel they can work together to come up with a positive result for all. The parties, though their lawyers if they have them, exchange settlement proposals and negotiate until an agreement is reached.
The benefits of settling your divorce out of court include:
- It puts the power back into the hands of the families. You have more control of the outcome and are not subject to the judge’s ruling at trial.
- Better and longer-lasting parenting agreements. If both parties own the settlement process, the agreement will last longer and be more durable.
- A better example for the children. Parents who negotiate a settlement are more likely to remain cordial, working together for the good of the family.
- It’s not as emotionally taxing. Negotiating a settlement avoids the extreme emotional rollercoaster of having to go to court.
- It’s much faster. Getting your case settled may take less than three to six months, whereas litigation can average up to two years years before you have a trial.
- It’s less expensive. Litigation can cost upwards of $20,000 per person.
- It’s confidential. Unlike in the courts, discussions about finances and other personal information are not part of the public record or open to the public.
- And offers more creative, fulfilling solutions. We’ll structure a plan to fit most any nontraditional work or life situation to achieve the most appropriate solution.
Attorney Harrington is trained to introduce unique solutions to marital disputes and help prioritize goals. Harrington Law, PLLC can represent you at any stage of the negotiation process.
Our firm is committed to helping our clients achieve a fair resolution regarding the financial and property matters. A negotiated settlement is typically far more acceptable to both parties. Various strategies can be employed to split the value of the marriage assets. One party may keep the family home, rather than being forced to sell it and split the proceeds, by sacrificing another asset. In some cases, a negotiated settlement could involve a one-time payout, scheduled payments, and many other options. When you work with us, we take a fully personalized approach to this critical matter. You have a unique situation and deserve our full attention to the important issue.
Tennessee Law and Equitable Distribution
Under state law, the marital property is divided on the basis of “equitable distribution.” It is not a community property state, in which the marriage assets will be divided equally. Equitable distribution refers to a method of dividing the marital property after reviewing the individual circumstances of the two parties. It may not be 50/50, however, most of the time "equitable" does mean pretty close to equal.
The issues considered in this process include:
- The length of the marriage
- The earning capacity and education of each party
- The contributions one partner made to the other in education that led to increased income and earning power
- The contributions each partner made to the marital (or separate) property
- The economic condition of each party
- The tax consequences that may be triggered
- Other income, such as Social Security payments
- Other considerations
Talk to Us about a Negotiated Settlement
We urge you to speak with us about negotiating a fair settlement. When the court decides, both parties may be very unhappy. Our process allows for a settlement to be worked out between the two parties to come to a resolution that is agreeable to both.
Contact Harrington Law, PLLC for legal representation in negotiated settlements in Franklin, Davidson County, Williamson County, and Middle Tennessee. Call us at (615) 560-8599 today.
Over 20 Years of Legal Experience
Striving for an Amicable Solution First
We Know What You're Going Through
Honest & Upfront Legal Counsel