The contributions, monetary and nonmonetary, of each party to the well-being of the family.
Don't discount your non-monetary contributions to the well-being of the family. Being a stay-at-home parent, cooking, cleaning, etc. are all important factors for the court to consider.
The contributions, monetary and nonmonetary, of each party in the acquisition and care and maintenance of such marital property of the parties.
Writing a list of all the actions you have undertaken in this regard throughout the marriage is helpful to the court.
The duration of the marriage.
The longer the marriage, the more likely for an equal division of assets.
The ages and physical and mental condition of the parties.
There may be specific reasons why an equal division is not fair based on this factor.
The circumstances and factors which contributed to the dissolution of the marriage, specifically including any ground for divorce.
Virginia is a fault-based state and Court can give less than an equal share based on the bad acts of a party.
How and when specific items of such marital property were acquired.
Make sure you have an accurate timeline of how and when property was acquired.
The debts and liabilities of each spouse, the basis for such debts and liabilities, and the property which may serve as security for such debts.
Depending on the circumstances surrounding the accumulation of debt, the court may order an unequal division.
The liquid or nonliquid character of all marital property.
Cases where assets are not marketable can make equitable distribution very difficult because there may be no source of available cash or there is an inability to sell an asset to pay the other spouse.
The tax consequences to each party.
A trap many people fall into is to trade taxable assets for non-taxable assets. This is especially common when a spouse considers trading the house for a retirement account. Always consult your tax advisor regarding possible tax consequences.
The use or expenditure of marital property by either of the parties for a nonmarital separate purpose ..
... or the dissipation of such funds, when such was done in anticipation of divorce or separation or after the last separation of the parties.
Be careful of spending money right before or after you separate. Be sure it's not frivolous spending and keep all of your receipts.
Such other factors as the court deems necessary or appropriate to consider in order to arrive at a fair and equitable monetary award.
This is the catch all factor that the court can hang it's hat on in the event there are other compelling reasons to divide property in a certain fashion.
Additional resources provided by the author
Read more in Section 20-107.3 of the Code of Virginia.
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