Last Updated: Sep 14, 2026
Read Time: 1 mins
Transcript:
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Debt is divided in Tennessee in the same manner that assets are divided. The court has the right to equitably divide your debts based upon a number of statutory factors. And the way we typically do this is we create a marital balance sheet that adds up all your assets and liabilities and create essentially for the court a net estate balance sheet that shows if you add everything up how does it look. Sometimes the courts will just say you need to pay this debt, you need to pay that debt and they try to divide it as
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much as they can. Unfortunately, sometimes there are folks who have more debts than they do assets. And the court will use the equitable factors that the legislature has put in place to decide how those debts should be awarded between the parties.
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