Assessing the Value of Marital Property: Is the Home a Key Marital Asset In a Volatile Market?

2010Brochures Practical Advice
As a result of the rapidly changing real estate market, there is an increased focus on the current value of the marital home. In order to assess value, we first have to use the appropriate valuation date. Case law is clear that a marital home is valued as of the date of trial. But appraisals are often done several months before the trial date. In such a volatile market, the marital residence – which has long been thought of as a key marital asset – may no longer be an asset that will increase in value.