Division of Property/Equitable Distribution

Virginia law differentiates between marital property and separate property.

Marital property is divided equitably, i.e., in a manner the court determines to be fair.

Under Virginia law, specifically, Virginia Code § 20-107.3(E), when a Court must decide how it will divide the parties’ marital assets and debts at equitable distribution, it is required to consider and weigh eleven (11) specific categories of facts. Although these various factors cover a wide variety of potential facts and circumstances, in practice, the facts presented to the court most commonly focus upon the nature of the particular assets and debts to be divided; how each party has contributed to the acquisition and maintenance of a particular asset; how each party has generally contributed to the well-being of the family unit during the marriage; and, whether either party has wasted, destroyed or dissipated marital property.

Factors the Court Takes Into Consideration in Equitable Distribution Cases

Virginia Code §20-107.3(E). The amount of any division or transfer of jointly owned marital property, and the amount of any monetary award, the apportionment of marital debts, and the method of payment shall be determined by the court after consideration of the following factors:

1. The contributions, monetary and nonmonetary, of each party to the well-being of the family;
2. The contributions, monetary and nonmonetary, of each party in the acquisition and care and maintenance of such marital property of the parties;
3. The duration of the marriage;
4. The ages and physical and mental condition of the parties;
5. The circumstances and factors which contributed to the dissolution of the marriage, specifically including any ground for divorce under the provisions of subdivisions (1), (3) or (6) of § 20-91 or § 20-95;
6. How and when specific items of such marital property were acquired;
7. 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 and liabilities;
8. The liquid or non-liquid character of all marital property;
9. The tax consequences to each party;
10. The use or expenditure of marital property by either of the parties for a non-marital 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; and
11. Such other factors as the court deems necessary or appropriate to consider in order to arrive at a fair and equitable monetary award.

The Duff Law Firm fully appreciates the importance of locating, classifying and valuing all assets which comprise the “marital estate.” The Firm takes great pride in its ability to understand and satisfy all of the crucial nuances of Virginia’s complex equitable distribution statute.