Hidden digital assets discovered during divorce

On Behalf of | Jun 2, 2023 | Divorce

When going through a divorce, honest financial disclosure is critical. This is necessary for a fair division of all marital property, and each Virginia spouse is obligated to provide accurate information regarding debts, income, assets and other aspects of his or her financial situation. Failure to provide accurate information can result in an unfair property division order. Hiding assets to try and skew the financial settlement is wrong, and it can lead to complications. Recently, a spouse attempted to hide digital assets during his divorce. 

Suspicious activities could be signs of a problem 

During a divorce, suspicious activities from one spouse may indicate that he or she is attempting to hide assets. Digital currency is particularly easy to hide, and it may be easy to use these assets to keep the other spouse from getting his or her fair share of all marital property. Recently, one woman thought it was suspicious during her divorce that her soon-to-be-ex, who earned millions per year, had few assets to report. 

With the assistance of a forensic accountant, she was able to locate a significant amount of hidden bitcoin. The amount her husband was trying to hide was worth approximately $500,000. Digital assets of all kinds are difficult to track, but they may be considered marital property. 

Fighting for a fair division of property 

It may be necessary for a Virginia spouse to fight for his or her fair share of marital property. To secure rightful assets, it may be important to work with an experienced attorney who can provide insight regarding the most beneficial way forward. With guidance, it is possible to locate hidden assets and secure a fair financial settlement.