Unless the parties agree as to how the property will be divided, a court will look to the Virginia Code (§ 20-107.3) and determine distribution through a process called “equitable distribution.” This does not necessarily mean that the parties will walk away with a 50/50 split. Factors (monetary and non-monetary) to be considered include:
This personal financial statement template is a great tool to keep track of your personal assets, liabilities, income and expenses.