How is a monetary award calculated?

The court must determine the following factors prior to entering a monetary award:

• The monetary and non-monetary contributions of each party to the well-being of the family;
• The value of all property interests of each party;
• The economic circumstances of each party at the time the award is to be made;
• The circumstances that contributed to the breakdown of the marriage;
• The duration of the marriage;
• The age of each party;
• The physical and mental condition of each party;
• How and when specific marital property was acquired and the effort expended by each party in accumulating the marital property;
• The contribution by either party to the acquisition of real property held by the parties as tenants by the entirety;
• Any award of alimony and any award or other provision that the court has made with respect to family use personal property or the family home; and
• Any other factor that the court considers necessary or appropriate to consider in order to arrive at a fair and equitable monetary award or transfer of an interest in marital property.