On behalf of Siegel, Colin & Kaufman | Nov 3, 2020 | Divorce
As you prepare for your divorce proceedings in Connecticut, you will likely view the valuation of your marital assets with a great deal of interest. Yet as many of the clients that we here at Siegel & Kaufman P.C. are quick to discover, almost as important as the value assigned to those assets is the date the court values them.
Upon your separation, both and your ex-spouse likely retain temporary control over certain assets that will subsequently be subject to property division. The management of those assets in the time between your separation and the conclusion of your proceedings will greatly impact the benefit that both you and your ex-spouse draw from them.
Reviewing the intentional deprivation of marital assets
An example illustrating the importance of your asset valuation date is the management of securities. Say that your ex-spouse retains control over these assets during your separation. Should they attempt to sell or otherwise offload them (thus depriving the court of the chance to determine their value), you could face a potential loss.
The same is true with business assets. Say your ex-spouse intentionally neglects their business prior to the formal dissolution of your marriage. This might again depreciate the value of those assets and lessen your potential benefit from them.
Valuating marital assets in Connecticut
Per Section 46b-81 of Connecticut’s General Statutes, the court uses the date of the dissolution of your marriage as its valuation date. However, there are permissible exceptions to this rule on a case-by-case basis. If it appears that your ex-spouse intentionally acted to deprive you of any value of a marital asset, the court may choose to establish the asset’s value as of the date of your separation.
You can learn more about the principles governing property division by continuing to explore our site.