Jackson Equitable Distribution Attorney
How Property is Divided Following a Divorce in MS
In a Mississippi divorce, whether your case is settled or submitted to a court for trial, the process of dividing assets is governed by the laws of equitable distribution. The purpose of equitable distribution is to fairly divide all marital assets.
It is important to note that the term “equal” is not used here, as equal is too literal a term used to describe things that are the same in size, degree, quantity or value. “Equitable” is defined as fair and impartial, or valid in equity. Thus, marital property may not be equally divided but rather divided in a fair and impartial manner so as to protect each party’s interests.
If you are going through a divorce and want to make sure your property is protected, you need to work with a competent attorney. Jackson lawyer Mark Chinn has been representing clients’ interests under Mississippi’s equitable distribution laws for 40 years. He knows how to prepare and present each case to protect his clients’ rights.
Contact our offices at (601) 202-5594 to talk with our Jackson equitable distribution attorneys. We will discuss your divorce and how we can protect your property and assets.
Ferguson Factors in a Mississippi Divorce
Mississippi judges apply specific factors set forth by Ferguson v. Ferguson, 639 So.2d 921, 926 (Miss. 1994) when applying equitable distribution laws to marital property. This includes:
- Substantial contributions by each party to the accumulation of property;
- Withdrawals, expenses, or other reductions/disposals of property by each spouse;
- The market value and emotional value of marital property;
- The value of separate property owned by each spouse;
- Tax, legal, and other consequences of the proposed division of property;
- What impact marital property division may have on future payments or disagreements;
- The financial security of each spouse based on marital property distribution, income, and earning capacity; and
- Other relevant factors.
Another key factor in equitable distribution is leaving each spouse in a self-sufficient state, to finalize the division of assets and facilitate the conclusion of their legal relationship.
Commonly Asked Questions About Equitable Distribution in Jackson
What Types of Property are Subject to Equitable Distribution?
Marital property, which includes assets acquired during the marriage, is subject to equitable distribution. This can include real estate, personal property, bank accounts, and retirement funds. Separate property, which is owned by one spouse prior to marriage or received as a gift or inheritance, is generally not subject to division.
How are Debts Handled in Equitable Distribution?
Debts incurred during the marriage are generally treated as marital debts and are divided equitably between the spouses. This can include credit card debt, mortgages, and other loans. Each spouse may be assigned responsibility for a portion of the marital debts.
Can I Negotiate the Division of Property with my Spouse?
Yes, spouses can negotiate the division of property and reach a settlement agreement outside of court. Mediation or collaborative divorce processes can facilitate these negotiations, allowing both parties to agree on a fair division without judicial intervention.
Our Testimonials
See How We've Helped Families Regain Their Strength
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Mark and his team did a great job handling my tough situation. Their expertise and knowledge made all the difference and I am so thankful for each member of this law firm.Mark
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Mr. Chinn and staff are very professional and knowledgeable. I was informed throughout the entire divorce process and I'm very pleased. My lawyer showed a deep understanding of my personal situation and demonstrated empathy throughout the entire process. This helped me tremendously to get through this difficult situation. I highly recommend this law firm.Shandler
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Trial day 2 today. Looking forward to work (which I rarely say in chancery court) but working with three of the best who make a beautiful, awesome, clean record. My reporter friends all get it. Makes work a pleasure. Thank you, Counsel, for being great at your job and making mine great. (Mark Chinn, Esq.)Unsolicited Post by a Court Reporter
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I am beyond grateful for the exceptional service provided by Mark. From our initial consultation, it was clear that he had a deep understanding of family law and a genuine concern for my well-being. Mark was always available to answer my questions, provided clear and concise advice, and worked to ensure the best possible outcome for my case. His strategic approach and attention to detail were truly impressive, and his support helped me stay calm and focused during a very challenging time. I highly recommend Mark Chinn to anyone seeking a knowledgeable and compassionate divorce attorney.Anonymous
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Thank you guys and I mean it from the bottom of my heart. The strategy and pressure worked. And the amount of work from you guys was above and beyond. Janeah you are unstoppable!!!! I’m more than happy with the agreement also. The constant contact with you guys and timely responses back to my questions really helped when things would get nasty. Helped me to stay smart and strategic instead of panic. But thanks again for everythingJoel D.
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When I found myself needing a divorce lawyer, my first and only call was to Chinn & Associates. From the onset, Mark told me not to worry, he had my back. It is pretty much impossible for me to not worry, but Mark was correct, he had my back. He and his staff were always prepared and kept me informed of what I needed to know. Janeah was an angel with a big sword, especially during the mediation process, working passionately to get me the best possible result. Mark and Janeah guided me through one of the most difficult and uncomfortable periods of my life, and I will be forever grateful for their hard work and support. While I hope I never need their services again, if I do find myself in this situation again Chinn & Associates will be my first choice for representation.Abbey M.
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Great customer service and very kind. They also worked quickly to take care of my issue. I definitely recommend Chinn & Associates.Anonymous
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I highly recommend Mark. He brings decades of experience and highly credible counsel. He was a steady voice of reason during an emotional time for my family. He stays close to his clients and is quick to respond. I always knew he was "on it." He partnered with my family to the very end of what turned out to be a longer than expected process. The outcome was worth the wait. I can't recommend him highly enough.Anonymous
