While a 50/50 division is common, the overall goal of debt and asset division is to reach a fair and equal settlement. If one spouse finds equal division to be unfair, it can be left to the court to decide whether an “unequal” division is more appropriate. Rulings for an unequal division rely on a wide spectrum of factors, ranging from length of relationship, prior agreements, career and financial contributions; or, if one spouse, through their sole effort, increased the value of an asset or caused a loss.
In the same way that values and assets can be grown by an individual, so can debts and loss. These losses range from giving away an asset, incurring tax liabilities and any other factors that may cause a substantial unfairness. Apart from preserving whatever equity each spouse brought into the relationship, courts consider the future as well. Courts will consider how the income earning capacity of one spouse may be impacted by the circumstances of the relationship when determining spousal support or alimony.