Overview: Eight Steps To Dividing Assets in Mississippi Divorce
An overview of how assets are divided in a divorce.
Step 1: Pick a Date
Deciding on the date that you and your spouse no longer share future assets.
Step 3: Value the Assets
Once the assets are listed, they must be valued. This is where it gets tricky.
Step 4: Characterize the Assets
Deciding what is marital property vs. what is non-marital property can be surprisingly complicated.
Step 5: Apply the Ferguson Analysis
This is where the rubber meets the road in a divorce trial.
Step 6: Divide the Assets
When it’s all said and done, how does a Chancellor decide who gets what?
Step 7: Consider Alimony
Whether to award alimony, and how much, goes hand-in-hand with the division of assets.
Step 8: Tidy Up
The final analysis. Is the distribution of assets and the award (or non-award) of alimony as fair as possible?