First you need to define what you mean by 'an empty TDateTime value'.
A TDateTime value is a double with the date encoded in the integer part and the time encoded in the fractional part. So, the closest thing to a 'null date' you can get is probably 0.
Hence, simply test ADate <> 0 to test if the date is 'null'.
But beware: if you declare a TDateTime local variable then it will not necessarily be =0 before you give it a value. It can be anything. Of course, the same thing applies to variables of type integer, double, boolean, ...
Also, I believe that a TDateTime with value 0 encodes the date 1899-12-30.
Finally, negative TDateTime values are perfectly normal. For instance, -5000 corresponds to 1886-04-22.
I don't quite get the point of your code. If you want to use 0 as the 'unassigned' value (which is bad if you are interested in dates close to 1899-12-30), why not do simply
function IsUnassigned(ADate: TDateTime): boolean;
begin
result := ADate = 0;
end;
or, possibly (but not equivalently!),
function IsUnassigned(ADate: TDateTime): boolean;
begin
result := IsZero(Date);
end;
In his answer, ain gave a couple of more reasonable choices for the 'unassigned date' value.