In this paper we develope a Morsification Theory for holomorphic functions defining a singularity of finite codimension with respect to an ideal, which recovers most previously known Morsification results for non-isolated singulatities and generalize them to a much wider context. We also show that deforming functions of finite codimension with respect to an ideal within the same ideal respects the Milnor fibration. Furthermore we present some applications of the theory: we introduce new numerical invariants for non-isolated singularities, which explain various aspects of the deformation of functions within an ideal; we define generalizations of the bifurcation variety in the versal unfolding of isolated singularities; applications of the theory to the topological study of the Milnor fibration of non-isolated singularities are presented. Using intersection theory in a generalized jet-space we show how to interprete the newly defined invariants as certain intersection multiplicities; finally, we characterize which invariants can be interpreted as intersection multiplicities in the above mentioned generalized jet space.

56 pages, some typos corrected