Valuations are an important part of resolving property and support issues in a family law matter. Assets subject to being valued include the matrimonial homes, family businesses, hobby farms, and securities held in investment portfolios. An income stream from investments, rental properties, and family business are also common sources from which support obligations are paid.
The relevant family law legislation does not define the term ‘value’. Courts have relied, in most cases, on the definition of fair market value of an asset.