How is a divorce settlement divided?

In West Virginia, the division of assets and liabilities resulting from a divorce is referred to as the divorce settlement. The state follows an equitable distribution system, meaning assets acquired during a marriage are divided fairly between the two spouses. This does not necessarily mean assets will be divided 50/50, but instead that the division should be made in a manner that is equitable, or fair, under the circumstances. When determining how assets will be divided during a divorce settlement, the court considers a number of factors, such as the length of the marriage, each spouse’s contributions to the marriage, and the economic circumstances of each party. Additionally, the court may consider pensions, inheritances, or other funds acquired prior to or during the marriage. The court may also assign a portion of assets and liabilities to each spouse. For instance, each party may be responsible for any debts accrued during the marriage. As part of the divorce settlement, the court may award one spouse a certain piece of property or other asset in order to make the division of assets more equal. The court may also require one spouse to pay alimony or spousal support to the other spouse, often in the form of periodic payments. In many cases, the alimony payments will be based on the incomes of both parties, as well as the contributions each made to the marriage. Alimony is usually only awarded in cases of long-term marriages or if a large financial discrepancy exists between the spouses.

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How is a divorce settlement divided?

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