Valuation Date for Marital Property
A common question clients ask is what date will the Court use to value marital property? For example, when we got married? when we separated? when the divorce is granted? Or something else?
The answer is courts generally value marital property at the time the divorce decree is entered or at trial. However the court has discretion to use a different date. Reasons why the court might use a different date include situations where one side acts obstructively and prevents the court from making a fair valuation. Situations where the parties have been separated for a long period and one spouse has had exclusive use of certain property. Or if a spouse has unreasonably reduced the value of an asset between separation and divorce such that it would be unfair to value it at the time of divorce.
Do you have questions about dividing property in your divorce case? If so give us a call today at 855-254-2600.