The procedure for equitable distribution is:
- First, the chancellor should determine whether the parties’ assets are marital or non-marital.
- Second, the marital property should be “equitably divided, employing Court-stated guidelines, in light of each party’s non-marital property.”
- Then, if the divided assets, when considered with each party’s non-marital assets, “will adequately provide for both parties, no more need be done.” If one party has a deficit, “then alimony based on the value of non-marital assets should be considered.”
Click Here for further discussion.