How are assets and liabilities distributed in a divorce?

 

A:

Virginia is an equitable distribution state. Generally, marital assets and liabilities are equally distributed. However, some factors to consider are:

  • Each party's contribution to the marriage
  • The relative economic circumstances of the parties
  • The duration of the marriage
  • Any interruption of the personal career or educational opportunities of either party
  • The contribution by one party to the personal career or educational opportunities of the other party
  • The desirability of having one party retain a particular asset, such as a business, free from interference by the other party
  • The contribution of each party to the acquisition, enhancement, and production of income, assets, and liabilities
  • The desirability of retaining the marital home as a residence for any dependent child, or for one of the parties when it would be equitable and financially feasible to do so
  • The intentional depletion or destruction of marital assets.