The complex nature of divorces involving cryptocurrency

On Behalf of | Feb 21, 2022 | Divorce

The financial changes brought by the end of a marriage are significant regardless of the income level of each party. However, divorces between one or two high-income earners or those who have significant valuable assets can be particularly complex. This process can also be difficult in divorces when one or both Virginia spouses possess cryptocurrency, a digital asset that can be complicated to trace and value.

The stakes are high

The property division process is already one of the most difficult aspects of any divorce. Couples may be at odds over how to split marital property or which assets count as marital assets. Cryptocurrency can add an additional layer of complication as one Virginia spouse may have it, and the other spouse may be unaware how much it is worth, how to access the accounts or even that these assets exist.

Hidden cryptocurrency assets can also make it difficult for a spouse to secure fair terms in his or her divorce order. Locating these funds may require the assistance of a forensic accountant and an in-depth investigation. A spouse who suspects hidden assets has the right to fight for his or her rightful share of marital property.

Securing a strong future

Cryptocurrency is a new challenge in many divorce proceedings, especially when there is the suspicion of hidden assets. However, it is possible to secure terms that allow one to have stability and security in the future. It will be in the interests of a Virginia spouse to seek the guidance of a knowledgeable divorce attorney when pursuing a positive outcome.