The dynamics of a two-qubit system is considered with the aim of a general categorization of the different ways in which entanglement can disappear in the course of the evolution, e.g., entanglement sudden death. The dynamics is described by the function n(t), where n is the 15-dimensional polarization vector. This representation is particularly useful because the components of n are direct physical observables, there is a meaningful notion of orthogonality, and the concurrence C can be computed for any point in the space. We analyze the topology of the space S of separable states (those having C = 0), and the often lower-dimensional linear dynamical subspace D that is characteristic of a specific physical model. This allows us to give a rigorous characterization of the four possible kinds of entanglement evolution. Which evolution is realized depends on the dimensionality of D and of D∩S, the position of the asymptotic point of the evolution, and whether or not the evolution is "distance-Markovian", a notion we define. We give several examples to illustrate the general principles, and to give a method to compute critical points. We construct a model that shows all four behaviors.