How cryptocurrency is affecting property division during divorce

On Behalf of | Jun 11, 2021 | Family law

During a divorce, the fair division of marital property is essential for the financial future of both spouses. This is only possible when both parties give a complete and honest financial disclosure. In order to keep more marital property and prevent the other spouse from getting his or her fair share during the property division process, one spouse may try to hide assets. One way this can happen is through cryptocurrency.

Finding all marital assets

If a North Carolina spouse suspects the other party is hiding assets, there are steps he or she can take. First, it is helpful to work with an attorney experienced in finding hidden assets. The attorney may then have to determine if there was an investment, then find where that money went. Suspicious expensive purchases, such as a new car, may indicate hidden assets in cryptocurrency.

It is possible for an attorney to use a subpoena to locate hidden cryptocurrency. This may allow for a search of the spouse’s computer or other electronic devices. Forensic experts and others may be able to find evidence of hidden cryptocurrency and determine where it is. After these assets are located, the spouse can pursue his or her rightful share of marital property.

A strong financial future

During a divorce, a North Carolina spouse’s financial future is on the line. It is beneficial to work with an experienced attorney at every step in order to fight for one’s fair share of marital property. If a spouse suspects that hidden cryptocurrency could affect property division, he or she has the right to take steps to locate these assets.