Divorce triggers many emotions in spouses, including anxiety about the future. People who have spent years building a family and a home with another person often worry about what their future might look like after they end that relationship.
The need to separate financial resources and physical property during divorce can be a source of profound stress. People fear losing their homes or their retirement savings. They want to avoid living with overwhelming financial obligations stemming from their marriage.
Do couples divorcing in Virginia usually split their property and financial obligations 50/50 when they divorce?
An even split is possible but unlikely
Many divorcing couples work together to settle all of their major issues with one another. They pursue uncontested divorces where they set their own terms. Spouses may sometimes agree with one another that a 50/50 split of their resources is appropriate and fair.
However, the law in Virginia does not mandate an even split. It requires an equitable division of marital property. Equitable means fair, which means every property division decree is unique.
If the matter goes to court, a judge looks at various details, including how long the marriage lasted, the paid and unpaid contributions of the spouses, the separate resources of both spouses and even custody arrangements for their children to decide what is appropriate. Especially if spouses litigate, an even split of assets is highly unusual.
Identifying priorities for the property division process and learning about the law can help people navigate Virginia divorces. Spouses with legal support during divorce negotiations and litigation are less likely to walk away with unfavorable settlements and a sense of injustice.