Equitable Distribution in Mississippi Cont'd

Dedicated Divorce Lawyer Representing Jackson Residents

(Continued from Property Division & Equitable Distribution)

Step two in property division is to value all assets with the assistance of Jackson divorce lawyer M. Devin Whitt. This may be as simple as looking at bank statements or other information. However, real estate appraisers, accountants or other professionals who specialize in valuation may be required to place a proper value on certain assets. Sometimes the parties may estimate value of an asset to save litigation expenses. For the measure of value of an asset, it is normal to use a fair market value, i.e., the value that a willing buyer would pay to a willing seller if they each know all relevant information and there is no pressure to buy or sell.

After all the assets have been identified and the values of the assets known, a division can be made either by agreement or court order, taking the "Ferguson Factors.” into account. It is important to remember that equitable distribution does not mean equal distribution, so do not assume that everything will be divided equally. The Ferguson Factors include:

  1. substantial contribution to property accumulation;
  2. spousal use or disposition of assets and distribution by agreement;
  3. the market or emotional value of the assets;
  4. the value of each spouse’s separate estates;
  5. the tax and legal consequences to third parties;
  6. the extent to which property division can eliminate the need for alimony;
  7. the needs for each spouse;
  8. Any other factor that should be considered in equity.

In Mississippi, there is the added consideration as to whether marital fault exists, but any division should not be made to punish a party for marital misconduct. Remember, if you do not have a fault based ground for divorce and you do not have an agreement, you will not get a divorce. Sometimes, this will result in property settlements that may be considered unfair should one party desire a divorce more than the other.

After identifying, valuing and distributing marital assets and debts, the last step in equitable distribution is to award alimony, if the award is made necessary due to the inadequacy of the property distribution. If the property division is large, an alimony award is much less likely. Unlike the child support guidelines in Mississippi, there are no statutory guidelines to help the parties, attorneys or the judge determine what amount of alimony is appropriate in a given case.

Based in the Jackson area, knowledgeable divorce attorney M. Devin Whitt believes in aggressive, diligent and compassionate representation of our clients involved in family law proceedings. Should you need representation or have questions relating to a divorce property division or other family law matter in Mississippi, please contact M. Devin Whitt at 601.607.5055 to schedule a consultation with an experienced Jackson divorce attorney.

Client Reviews
★★★★★
Devin handled my case with the attention and compassion you need when going through tough times in life. I always felt he had my back and fought for my best interests at all times throughout the ordeal. I would recommend Devin to anyone in need of an attorney. In fact, I already have! Keith C.
★★★★★
From the first time that I met Devin he was very friendly, courteous and passionate of being the Attorney that he would want serving him. He spent countless hours working to ensure that fair treatment was being delivered to me and my family. Very organized, timely, response to all my request. I had a very complicated case that extended longer than anticipated and he stayed on task, very optimistic, very driven for results and was able to deliver what I was seeking out for from the first meeting that I had with him. He never mislead me or promised me the world. He was very objective and realistic in what he felt he could deliver. I appreciate all that he did for me during this time and I will continue to use him for all of my future needs. If you family ever needs honorable, competent, caring representation in a case, then Devin Whitt is the Attorney you will be pleased with. Michael D.
★★★★★
Devin Whitt was very helpful and successful on achieving the desired results for my case! My case was over a year long, and Devin sought additional ways needed to solve my legal issues. He could’ve quit and said, “That’s the way it is”, but he continued to go to bat for me until he hit the HOMERUN. Even after the successful case, Devin called to check on me to ensure that I knew the additional steps needed to completely clear my name. Devin was prompt when returning phone calls. I have recommended Devin once and would HIGHLY recommend him to anyone regardless of their legal issues. If you want to be successful in your case, don’t look any farther. Pick up the phone and call Devin! Immediately!! Parker R.
★★★★★
My experience with Mr. Whitt was positive from the first moment I consulted with him. I can't think Mr. Whitt enough for his help with my custody case. He was attentive, thorough, and helpful throughout a difficult time for me. He always kept me updated with the progress of my case and made me feel as if we were working together as a team. He was always available to me when I had questions pertaining to the matter, and he was always willing to take the extra time to make sure I understood everything in the process. I highly recommend Devin Whitt! Jennifer N.
★★★★★
Attorney Devin Whitt is awesome! He told me that he was going to do his best, and his best exceeded my expectations! For excellent representation, I highly recommend Attorney Whitt! Althea S.
★★★★★
Devin Whitt is absolutely the person you need to call when needing representation in a divorce case! He is the reason today that i have full custody of my 3 boys. Devin fought when nobody else gave me any hope. These days when many attorneys will concede children over to alcoholic and drug addicted mothers Devin said NO! He stood up and fought for me and my boys and we won. Thanks to Devin they are now in a stable home with me and their step mother, doing well in school and bright futures ahead. The alternative would have been living with an alcoholic and drug addicted mother and boyfriend. Thank you Devin for all you have done for me and my boys! Do not hesitate, CALL Devin Whitt today and be represented by the best!. David A.