The division of property acquired during the marriage (and sometimes property acquired outside the marriage) can be one of the most hotly contested issues in a divorce proceeding. While parties may arrive at a settlement of their property rights after negotiation or after mediation, this may not always occur.
If settlement is not reached, the court will have the job of dividing the parties’ assets, based upon the evidence presented during the trial. The court’s duty in this regard is to make a decision that is fair and equitable under all of the circumstances. There is simply no set or mathematical formula that is used and courts generally have wide discretion in dividing the marital estate.
In determining property issues, the court will usually consider the following, non-exclusive factors:
Prenuptial, postnuptial agreements and settlement agreements can also have a large impact upon how property will be divided in a divorce. Due to the complexities of this issue, it is best to talk with an experienced attorney before entering into any type of agreement regarding property.
To learn more about what attorney Timothy M. Farris can do for you, contact our offices today. Representing clients throughout the state of Mississippi.