When you get divorced in Michigan, a large part of the process is dividing your assets. Part of this process involves figuring out the value of each asset. As each asset has its value determined, it gets a valuation date, which according to Forbes is the date upon which the value of the asset is defined.
While this may seem like a simple concept, it is not. Some assets can easily be assigned a valuation date. For example, something that will not go and down in value anytime soon can be easily valued at just about any point and the date upon which that is done makes little difference. However, other assets can be very much affected by when they are assessed. For example, stocks can change in value drastically from one day to the next, so the date when they are assessed matters in a major way. It really depends on the assets you have as to whether the valuation date will be of much concern.
Of course, this can cause some issues and lead to arguments because the court will base its decisions on the value of the asset on its valuation date. It does not matter if that asset later rises or falls in value. To avoid issues, courts usually set the valuation dates. They are generally close to the time when the divorce proceedings begin. However, you may have some say in the date, so make sure to discuss it with your attorney. This information is for education and is not legal advice.