You Want a Divorce? When? As Of When?

This article over at Bloomberg.com has all sorts of levels. According to the article, NY divorces are down 9+% y/y through the 1st 10 months of 2008, presumably because jointly held assets are way down in value and therefore one or both parties are going to get less that they expected, or assets or businesses are difficult to value.

In some instances, timing is a very important factor. Some partners who control family assets want the divorce to go down now, when values are at a cyclical (we hope) low. Others aren't getting the exact result they desire:

"... [consider] the case of Rick Morton, a principal of closely held Ashley Capital LLC, a New York-based real estate company. He and his wife, Marsha, decided to divorce in 2007 after 23 years. A judge in Westchester County, New York, ruled in October that Morton’s business should be appraised at its March 2007 value instead of what it was worth last year. Morton estimates some of Ashley’s properties, including those in Detroit whose tenants include Ford Motor Co. and General Motors Corp., have fallen at least 30 percent since March 2007.
“She’s gotten a potential windfall,” Morton said of his wife, who he said used hindsight to push for “the sweetest date” for the valuation. "

Well played.