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Property Division Lawyer in Madison, MS
We Provide Divorce & Family Law Representation Throughout Madison County
At Hancock Law Firm, PLLC, our Madison, MS property division lawyers are skilled and effective advocates for clients. With a focus on helping people find low-conflict, amicable solutions in their divorce cases, we are always ready to take aggressive action to protect your property rights and overall financial interests. Our attorneys are trial-tested. If you have any questions, we are available to help you find the right answers. Give us a call now to schedule a completely confidential consultation with a top-rated Mississippi property division lawyer.
Divorce in Mississippi: A Guide to Property Division Laws
Divorce is common. In fact, the latest research suggests that approximately 4 in 10 U.S. marriages end in a separation. Of course, that does not make things any easier for the people who are actually going through a divorce. There are a number of complicated things that need to be worked out. For most divorcing couples in Mississippi, property division is one of the challenging and contentious matters. With extensive experience representing clients in divorce cases, our Madison, MS family attorneys have the professional skills to handle complex property division matters. Here are some of the key things to know about the property distribution laws in Mississippi:
- Marital Property & Non-Marital Property: As a married couple, your property/assets are either owned jointly (marital) or separately (non-marital). When starting the property division process in a divorce, you need to figure out what counts as a marital asset and what counts as a non-marital asset. Non-marital property is also called separate property or individual property. It is not subject to division in a divorce. In other words, each spouse gets to keep their separate property. In Mississippi, separate property is generally the stuff you had before you got married, any personal gifts you received, and certain forms of inheritance. In contrast, marital property is everything else either spouse gained/received during the course of the marriage. Marital property will be divided.
- Equitable Distribution Standard: Similar to the large majority of the jurisdiction in the United States, Mississippi uses an equal distribution legal standard for property division. Under this type of legal standard, each spouse has a right to receive their “fair share” of marital property. What is fair distribution? That is a very complicated question that depends entirely on the specific circumstances of the divorce. It might be a 50-50 split—but that is not guaranteed under Mississippi state law. Instead, courts will take a close look at the individual case to determine what is equitable. In general, Mississippi courts give divorcing couples wide discretion to reach their own property division settlement.
- Complex Property May Require Specialized Attention: For high net worth couples and other people who own complex property/assets, specialized attention is often required. Many types of complex property—the family home, other real estate holdings, valuable heirlooms, tax-advantaged retirement accounts, business interests, investments—can be difficult to divide. It is crucial that you make sure that your financial interests are fully protected in your Madison, MS divorce case and that you do not damage a business, cause investment losses, or be hit with tax penalties because the property division aspect of your divorce was mismanaged. Be ready to get professional help from an attorney who has experience with complex property division cases.
You Can Rely On Our Madison, MS Divorce Lawyers to Protect Your Rights
Going through a divorce is never easy. Dividing property is one of the issues that trip up many divorcing couples in Mississippi. At Hancock Law Firm, PLLC, we are to protect your rights and help you find solutions that actually work. You deserve proactive, personalized representation. Among other things, our Madison property division attorneys are ready to:
- Answer your questions and explain Mississippi law during a confidential consultation;
- Gather all of the documents, records, and information that you need to move forward;
- Represent you in divorce settlement negotiations with your spouse; and
- Take whatever legal action is required to protect your best interests.
Contact Our Madison, MS Property Division Attorneys Today
At Hancock Law Firm, PLLC, our Mississippi divorce lawyers have the specialized skills and legal knowledge to represent clients in complex property division cases. If you have questions about a specific situation or need property division assistance in general, we can help. Call us now or connect with our law firm online for a strictly private initial case review. We provide divorce & family services in Madison and all around the surrounding region.
To set up a consultation, call us at (601) 853-2223 or contact us online.
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