When determining what would be a fair division of property in a divorce, among the things that are looked at is how much the couple’s various marital assets are worth. So, valuation is often a big issue in Virginia divorces.
Now, many types of property shift in value over time. So, when a given valuation is done can matter quite a bit. What is the time of valuation for marital property in Virginia divorces?
For most assets, it is the time of the relevant evidentiary hearing/trial. There are some exceptions, however. Among the big ones are retirement plans. For such accounts, the marital share of the account is based on the value of the earnings and contributions that were made between the start of the marriage and the date of separation (not the date of the hearing/trial). Generally, earnings and contributions made after the date of separation fall into the realm of separate property (which typically is not divided).
Just as some marital assets raise special issues related to the time of valuation, some raise issues related to the complexity of determining value. The question of value is pretty straightforward for some assets. For others though, there can be a wide range of factors that impact value. Take businesses for example.
When complex valuation issues arise in a divorce, addressing them properly is very important. Such issues can have major impacts on how property division proceedings end up going. Skilled divorce attorneys can provide guidance on complex valuation issues and other complicated divorce matters.