How are assets divided when determining spousal support?

When it comes to determining spousal support in Virginia, assets are divided based on the principle of equitable distribution. This means that the court will share the assets fairly between the two parties considering their contributions to the marital assets. Each party’s income, ages, physical and mental health, etc. are all taken into account in the court’s decision. In Virginia, any property or debts earned and acquired during the marriage is considered marital property. This includes real estate, vehicles, investments, and retirement accounts. However, any property that is acquired prior to the marriage or as a gift or inheritance to one spouse is considered separate property. In most cases, the separate property remains with one spouse and is not divided in the divorce settlement. In addition, the court may consider factors such as the length of the marriage, the lifestyle of the parties during the marriage, the amount of each party’s separate property or income, and the needs of each party. When making a determination, the court may award spousal support to one party if the other party has a higher earning or separate property. In summary, when it comes to determining spousal support in Virginia, the court considers equitable distribution, marital property, separate property, and numerous other factors. The court’s decision is based on the needs of each individual party and the contributions each has made to the marriage.

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How are assets divided when determining spousal support?

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