Equitable Distribution

As part of a divorce, Virginia law permits a trial judge to sort through the personal and real property of the parties to classify separate and marital property. Separate property, owned by one of the parties to the marriage, will remain the separate property of that individual. Marital property, on the other hand, is all property that is jointly owned by the marital couple. The trial judge has the authority to classify property as part separate, part marital. Based on the property that exists between the parties, the trial judge also has the discretion to provide a monetary award to one of the parties to the marriage, which will be provided irrespective of any spousal support or maintenance award given.

When dividing the marital property, apportioning marital debt, and determining the amount of any monetary award, the trial court must consider the following statutory 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 nonliquid 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 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; 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.

Va. Code § 20-107.3 (2009).

MartinWren, P.C. has extensive experience representing individuals in divorce matters of all complexity. For additional information, or to schedule a consultation for a divorce matter, please call John B. Simpson at (434) 817-3100.