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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.

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