When a couple decides to divorce, one of the biggest concerns is the division of assets. This includes not only traditional assets such as property and savings, but also any investments that the couple may have, including cryptocurrency. Unfortunately, some individuals may try to hide their crypto assets in order to avoid having to split them with their ex-partner. If you suspect that your ex is hiding crypto, there are steps that you can take to uncover these assets and ensure that they are included in the division of assets.
Cryptocurrency, such as Bitcoin and Ethereum, is a digital asset that is created and stored electronically on a decentralized platform. It is not controlled by any government or financial institution, making it a popular choice for those who want to keep their assets private. However, this privacy can also make it a convenient tool for hiding assets during a divorce.
Many people may not even be aware that their spouse has invested in crypto. Additionally, the value of crypto can fluctuate wildly, making it difficult to determine its true value at any given time.
If you suspect that your ex may be hiding crypto, there are a few steps that you can take to gather evidence and protect your interests.
- Gather financial information. The first step in any divorce or separation is to gather as much financial information as possible. This includes bank statements, credit card statements, and any other financial documents that may be relevant. In the case of crypto, you should also gather information about any digital wallets or exchanges that your ex may have used.
- Hire a forensic accountant. A forensic accountant can help you to identify any hidden assets, including crypto. They will be able to review financial documents and transactions to identify any suspicious activity.
- Consider legal action. If you have evidence that your ex is hiding crypto, you may need to take legal action to protect your interests. This could include filing for a court order to freeze assets or to force your ex to disclose any hidden assets.
In addition to the legal risks, it is also important to be aware of the risks of investing in crypto. Cryptocurrency can be highly volatile, and the value of your investment can fluctuate greatly. Furthermore, it is important to be aware that many crypto exchanges and platforms are not regulated, which can make it difficult to protect your assets in the event of fraud or other malicious activity.
In conclusion, if you suspect that your ex is hiding crypto assets, it is important to take steps to uncover these assets and ensure that they are included in the division of assets. This may include gathering financial information, consulting with a family law solicitor, and being aware of the legal and investment risks involved. However, it is important to keep in mind that uncovering hidden assets can be a complex and time-consuming process, and it may not always be possible to recover all of the hidden assets.Get Expert Advice You can contact us for confidential family law advice. We offer free, no obligation, telephone consultations for qualifying individuals. If you would like to book an initial phone consultation at no cost, please contact us today. Copyright 2013-2022 Rainscourt Law LLP. All rights reserved.