A History Of Growing Trust In Kentucky

Hidden cryptocurrency still counts as a marital asset

On Behalf of | Aug 24, 2018 | divorce

When divorce comes knocking at the door, spouses tend to think in terms of their own survival and long-term well-being rather than focusing on treating each other fairly or even within the bounds of the law. For many spouses, the process of divorce has a way of bringing out the worst, especially when it comes to property division.

Of course, hiding any kind of assets during property division in divorce is both unethical and illegal, but that doesn’t seem to deter thousands of spouses from doing it anyway. The easier it is to hide an asset, the more likely a spouse is to try to hide it and keep it for themselves after the dust of divorce settles.

In recent years, cryptocurrencies have completely reframed how people think about holding and transferring assets, in part because these forms of currency are often easy to hide and difficult to track. Be that as it may, assets are assets, and any asset not protected by a prenuptial agreement or some other extension of the law is usually subject to property division. In simple terms, cryptocurrency does qualify as a marital asset and should receive the same division as other assets in a divorce.

If you suspect that your spouse may hide cryptocurrency during your divorce, you may need to take serious legal action to protect your own interests. Be sure to use excellent legal resources and high-quality guidance as you build your divorce strategy and search for any hidden assets. A strong legal strategy helps you take control of your divorce and protect your rights, allowing you to focus on your personal needs and setting you up for a clean start in a new season.