Property Division Lawyer - DeSoto County

At Heidi S. Milam, Attorney at Law we understand that property division can be one of the most contentious and emotional aspects of a divorce. Our DeSoto County property division lawyers are dedicated to helping clients navigate this difficult process with compassion and expertise.

As experienced property division attorneys, we have helped numerous clients in DeSoto County and the surrounding areas achieve fair and equitable property settlements. We understand the nuances of Mississippi divorce law and can help you understand your rights and options when it comes to dividing assets and liabilities.

Going through a divorce? Protect your assets—contact us today at (662) 855-0027 for a consultation!

Property Division in Mississippi

Whether you are dealing with a complex high net-worth divorce or a more straightforward property division, our attorneys will work tirelessly to protect your interests and achieve the best possible outcome for you. We can assist with a wide range of family law and property division matters, including:

• Division of marital assets and liabilities
• Valuation of property, including real estate, businesses, and investments
• Spousal support and alimony
• Retirement and pension account division
• Debt allocation
• Post-divorce property disputes

Types of Property in a Divorce

When going through a divorce, it’s essential to understand how property is classified and divided. Not all assets are treated the same under Mississippi law.

• Marital Property vs. Separate Property – Marital property includes assets acquired during the marriage, while separate property includes assets owned before the marriage or received as gifts or inheritance. Only marital property is subject to division.
• Commingled Assets – If separate property is mixed with marital property—such as depositing inheritance money into a joint account—it may lose its separate status and become marital property.
• Hidden Assets – Sometimes, one spouse may try to hide assets to avoid sharing them. Attorneys can work with financial experts to uncover undisclosed income, offshore accounts, or hidden investments.

Factors That Affect Property Division in Mississippi

Mississippi follows equitable distribution, meaning assets are divided fairly—but not necessarily equally. Courts consider several factors to determine what is fair.

• Length of the Marriage – Longer marriages often lead to more intertwined finances, increasing the likelihood of an equal split.
• Financial Contributions – Courts examine each spouse’s contributions, including income, homemaking, and childcare.
• Earning Capacity – If one spouse earns significantly more, the court may award a greater share of assets to the lower-earning spouse.
• Misconduct & Dissipation of Assets – If one spouse wasted marital funds (e.g., gambling, affairs, reckless spending), the court may award a larger share to the other spouse.

High Net-Worth Divorce and Complex Asset Division

For high-net-worth individuals, property division can be more complicated due to the variety and value of assets involved.

• Business Ownership & Investments – Determining the value of businesses, stock options, and other investments requires professional financial analysis.
• Retirement Accounts & Pensions – Assets like 401(k)s, IRAs, and pensions may require Qualified Domestic Relations Orders (QDROs) to divide correctly.
• Professional Practices & Intellectual Property – Lawyers, doctors, and business owners may have intangible assets, such as brand value or patents, that need valuation and fair distribution.

Divorce can be complex, but understanding these factors can help you protect your financial future.

Frequently Asked Questions (FAQ)

Do I have to go to court for property division?

• Not always. Many couples can negotiate property division through mediation or settlement agreements without going to court. However, if an agreement isn’t reached, a judge will decide how assets are divided based on Mississippi’s equitable distribution laws.

Can my spouse and I decide how to divide our assets?

• Yes. If both parties agree on how to divide assets and debts, they can create a property settlement agreement. The court will typically approve it as long as it is fair and reasonable.

What happens if my spouse refuses to disclose assets?

• If you suspect your spouse is hiding assets, your attorney can request financial disclosures, subpoenas, and forensic accounting to uncover any hidden property, bank accounts, or income sources.

Will I have to split my inheritance with my spouse?

• In most cases, inheritances are considered separate property and not subject to division. However, if the inheritance was commingled—such as being deposited into a joint account or used for marital expenses—it may be considered marital property.

How is debt divided in a divorce?

• Debts, like assets, are divided equitably in Mississippi. This means both spouses may be responsible for joint debts, such as mortgages and credit cards, while individual debts may remain with the person who incurred them.

Can I keep the house after divorce?

• If you want to keep the marital home, you may need to buy out your spouse’s share or negotiate other assets in exchange. If neither spouse can afford the home alone, selling it and splitting the proceeds is a common solution.

How does property division affect spousal support?

• The outcome of property division can impact spousal support (alimony). If one spouse receives a larger share of assets, they may receive less alimony, or vice versa.

Contact Our DeSoto County Property Division Lawyer

At Heidi S. Milam, Attorney at Law, we believe in personalized service and individual attention. We will work closely with you to understand your unique situation and develop a strategy that meets your needs and goals. Our attorneys are experienced negotiators and litigators, and we are always prepared to fight for our clients' rights in court if necessary.

If you are facing a divorce or property division issue in DeSoto County or the surrounding areas, turn to Heidi S. Milam, Attorney at Law for compassionate and skilled legal representation. Contact us today to schedule a consultation with a property division lawyer.