Many aspects of divorce are uncertain and intimidating to people. Spouses are often unsure of what happens during divorce. They may only have exaggerated anecdotes from friends and coworkers to consider.
The stories retold by those who have undergone divorce are often exaggerated or outright inaccurate. People tend to manipulate the stories they tell to make themselves look blameless. They may fabricate details or exclude key information. Additionally, the divorce may not have occurred here in Virginia. The law is different in every state, which means that a story from Texas has little bearing on what happens during a Virginia divorce.
Spouses typically need to account for and appropriately divide their shared or marital property. What does that process entail under current Virginia statutes?
Virginia is an equitable distribution state
Quite a few people think of property division in divorce as a 50/50 process. They expect to divide every asset and financial obligation in half. Virginia’s equitable distribution statute requires a more comprehensive review of the situation.
Equitable means fair, and an even split is rarely the best or fairest solution available. Judges hearing litigated property division cases look at many different details to determine the best way to divide property and financial obligations. The length of the marriage, the health of the spouses, the earning potential of each spouse and custody arrangements for shared children can influence what judges decide to do with the marital estate.
Judges can order the sale of certain resources. They can allocate properties and debts to either spouse. They can even award financial support in the form of alimony or spousal support as a way of making property division fairer in the long run. It is all but impossible to predict exactly how a judge might handle any specific asset, let alone the entirety of the marital estate.
Spouses have the option of settling
There is no rule that requires litigation for property division matters in Virginia divorces. Spouses always have the option of working cooperatively with one another. If they have a prenuptial agreement, they may have already agreed to specific asset distribution terms.
Otherwise, they may be able to negotiate with one another to set their own terms. Couples who pursue uncontested divorces can prioritize securing terms that they feel are important for their long-term happiness or financial recovery.
Understanding the basic standards that apply during a Virginia divorce can help spouses as they prepare for the process ahead. Spouses can either ask a judge to resolve their asset distribution disputes or choose to work together if doing so is feasible given their circumstances.