Q: Does the court automatically determine who gets what? What leeway does the couple have to determine distribution?
Absent a settlement between the parties and their lawyers or resolution of the case through mediation or the collaborative process, the court can resolve the distribution of assets and debts after a trial. A couple always has the right to settle their disputes in a manner they choose prior to the trial. Settlement terms are typically memorialized in a contract between the parties commonly titled a “property settlement agreement.” Property division in Virginia is known as “equitable distribution.” “Equitable” does not always mean “equal,” and diverse factors influence how marital assets are split up.
Q: What are some of these factors?
* How long your marriage lasted; * The tax ramifications for each person; * The liquidity of the assets: can they be sold and their revenue easily divided?
* When the various assets (and debts) were acquired and under what circumstances; * The health, well being, mental state, ages and earning capacities of each spouse; * Each spouse’s contributions to the family, measured both monetarily and non-monetarily. (For instance, if one spouse spent the last seven years taking care of the children, the court will obviously take that into account.) * What happened to dissolve the marriage? For instance, did someone commit adultery, desert the marriage, or engage in abusive behavior? * The size, diversity and nature of any liabilities or debts of the marital estate.
Q: What is alimony?
Alimony, also known as spousal support, is a court-ordered sum of money that one spouse pays the other, either in a lump sum, in a continuing arrangement over time or a combination of the two.
Q: What determines alimony in a Virginia divorce?
Alimony is not guaranteed during a divorce. Many factors can influence how much spousal support should be assigned and under what circumstances, including:
* The couple’s history and lifestyle; * Each spouse’s level of sufficiency and resources; * Each spouse’s income stream, earning potential, age, and mental and physical health; * Each spouse’s past contribution to the well being of the family; * Whether one spouse was at fault (e.g. committed adultery, deserted the marriage or engaged in abuse). If so, or he or she may be denied spousal support. * Past decisions made by both parties regarding educational and career opportunities as well as the bearing of those decisions on current and future income capacity.