Many in Baton Rouge may view a divorce as being a singular event, when in reality, it is a process. Those who have come seeking the help of our team here at Gregory S. Johnson, Attorney at Law to work through this process often ask us what are the most important dates they need to plan. Most are surprised when we tell them they need to be aware of their valuation dates. If you wonder what a valuation date has to do with a divorce, you are not alone. Yet given the stake that both you and your soon-to-be ex-spouse have in your marital assets, you should definitely know why when they are valued is important.
Say that after you and your spouse separate, your spouse stays in your marital home. Knowing that the likelihood exists that the two of you may have to sell the home and split the proceeds, they may then proceed to neglect the property so that once a sale does happen, your stake in it is diminished. Their stake would be, as well, but when the motive for doing so is to punish you, your ex-spouse may be willing to absorb the loss.
Therefore, you should that the date Missouri law views as the valuation is as close to the date of your divorce as possible. According to the American Institute of CPA's, the valuation date for divorce case is the date of the divorce itself (or more specifically, your petition or trial date). With the valuation date being later on in the process, you and your ex-spouse have every incentive to ensure your marital assets retain their value.
More information on the financial considerations of a divorce can be found by continuing tp browse through our site.