Opinion ID: 1423733
Heading Depth: 3
Heading Rank: 2

Heading: The Correct Date for Valuing McDaniel Trucking and the Span-Alaska Partnership.

Text: We recently explained in Ogard v. Ogard, 808 P.2d 815, 819 (Alaska 1991), that the valuation of marital property should be as close as practicable to the date of trial. However, assets may be valued at a different time in special situations, including where the value of marital property increases [after the separation] due to the efforts of one of the spouses. Id. at 820 (quoting Lawrence J. Golden, Equitable Distribution of Property § 7.02, at 208 (1983)). If the trial court determines to use the date of separation for valuation it should issue specific findings as to why the date of separation is the more appropriate choice. Id. at 820. [2] In this case the trial court awarded McDaniel Trucking and all its assets to Robert, stating that the only practical valuation is the net value of the assets minus the liabilities. It also awarded the Span-Alaska partnership to him, stating: There exists an interest in a partnership known as Span-Alaska, including a lot in Wasilla with a value of $9,500 and other equipment and vehicles. The total value of these assets is $59,150. There is a 10% cost of sale of some of these assets of $4,965. The net value of the land and personal property is $54,185. There exists a $60,000 debt owed by the partnership. This means that there is a negative equity of $5,815. Mr. McDaniel owes one-half (1/2) of this sum. This $2,907.50 shall be his sole debt. By the time of trial both McDaniel Trucking and Span-Alaska had paid the debts which they owed at the time of the McDaniels' separation. However, the trial court was silent on why it valued these assets at the time of separation rather than trial, affording this court an inadequate basis for review. The issue of the valuation of Span-Alaska and McDaniel Trucking must thus be remanded for redetermination and written findings of fact consistent with Ogard, to afford this court a sufficient basis for review.