Opinion ID: 1136028
Heading Depth: 1
Heading Rank: 7

Heading: Whether the Chancellor erred in refusing to order an equitable distribution of marital assets.

Text: Paragraph 6 of the divorce settlement provided: As to any separately owned property that either party may own and which is not herein specifically mentioned, the same shall be deemed the exclusive property of such individual owner. As to any jointly owned property other than the aforesaid marital residence, such property will be equitably divided between the parties. The Chancellor denied Sally's request for an equitable distribution of marital assets, finding that such property had already been equitably divided by the parties as reflected by Exhibit 10. Exhibit 10 consisted of four legal pad pages executed by the parties on September 5, 1990, and which listed items of personal property. Pages 1 and 4 were headed by the name Sally, and pages 2 and 3 were headed by the name John. Sally argues that the Chancellor erred by not considering the eight Ferguson factors to be considered by Chancellors when making equitable distributions of marital property. Ferguson v. Ferguson, 639 So.2d 921, 928 (Miss. 1994). The property sought by Sally was a baby grand piano which she testified was given to her as a gift by John. The Ferguson factors are: 1. Substantial contribution to the accumulation of the property. Factors to be considered in determining contribution are as follows: a. Direct or indirect economic contribution to the acquisition of the property; b. Contribution to the stability and harmony of the marital and family relationships as measured by quality, quantity of time spent on family duties and duration of the marriage; and c. Contribution to the education, training or other accomplishment bearing on the earning power of the spouse accumulating the assets. 2. The degree to which each spouse has expended, withdrawn or otherwise disposed of marital assets and any prior distribution of such assets by agreement, decree or otherwise. 3. The market value and the emotional value of the assets subject to such distribution. 4. The value of the assets not ordinarily, absent equitable factors to the contrary, subject to such distribution, such as property brought to the marriage by the parties and property acquired by inheritance or inter vivos gift by or to an individual spouse; 5. Tax and other economic consequences, and contractual or legal consequences to third parties, of the proposed distribution; 6. The extent to which property division may, with equity to both parties, be utilized to eliminate periodic payments and other potential sources of future friction between the parties; 7. The needs of the parties for financial security with due regard to the combination of assets, income and earning capacity; and, 8. Any other factor which in equity should be considered. Ferguson, 639 So.2d at 928. Chancellors are to evaluate the division of marital assets by the above guidelines, and should support their decisions with findings of fact and conclusions of law for purposes of appellate review. Id. This Court has held that the failure of a Chancellor to make these considerations when refusing to order an equitable distribution constituted reversible error. Carrow v. Carrow, 642 So.2d 901, 904-07 (Miss. 1994). In the instant case, the Chancellor clearly considered factor number 2, finding that the parties had already made an equitable division of jointly owned property. The question to be determined by this Court, therefore, is whether the Chancellor's consideration and finding as to this factor alone suffices to satisfy the requirements of Ferguson. We note that the Chancellor need not make findings as to each and every factor set forth in Ferguson, but rather the Chancellor may consider only those factors he finds applicable to the property in question. Carrow, 642 So.2d at 907. Here, the finding that the parties had previously divided the marital property was clearly applicable, and the Chancellor found this factor sufficient to dispose of the issue of further equitable distribution. Accordingly, the Chancellor did not manifestly err in refusing to equitably divide the marital assets.