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Cryptocurrency could affect property division during divorce

On Behalf of | Jun 13, 2021 | divorce

One of the most complex aspects of ending a marriage is deciding what will happen to a California couple’s property. Community property is typically divided equally between the two parties or according to the terms of a prenuptial agreement. However, this process can be complicated if one party tries to hide assets from the other. One way this is now happening in some divorces is through hiding wealth in cryptocurrency 

Hidden assets add complication 

Hiding assets during a divorce is a deliberate attempt to keep the other party from his or her appropriate share of marital property. Cryptocurrency is a relatively new way to do this as it can be difficult to locate. Some facts about finding cryptocurrency: 

  • Forensic accountants may find it by looking for electronically stored information that could indicate a cryptocurrency investment. 
  • A spouse making a sudden extravagant purchase or having a lot of wealth with no explanation could mean an investment in cryptocurrency. 
  • If there is a suspicion of hidden assets, an attorney can request a subpoena to do a forensic investigation. 

If hidden assets are found in cryptocurrency or in another form, the spouse may well be entitled to a portion.  

A strong financial future 

There is a lot at stake during a divorce. A California spouse has the right to seek his or her rightful share to marital property, even if there is a possibility some assets have been hidden in cryptocurrency. With the right help, it is possible to pursue fair terms that will allow for stability and security.