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Is your spouse hiding digital assets?

On Behalf of | Feb 17, 2022 | High-net Worth Divorce, High-net Worth Property Division |

When dealing with divorce, the last thing you want to consider is your spouse potentially trying some underhanded tactics in an attempt to circumvent a fair division of assets.

Unfortunately, the rise of digital assets including cryptocurrency has opened a new outlet for the possibility of a spouse hiding assets. In order to combat this possibility, it is important to understand as much as possible about digital asset hiding and how to track it down.

What do you know about cryptocurrency?

CNBC discusses the rising problem of digital assets and divorce. Over 20 million Americans could possibly own some form of cryptocurrency, as reported by experts monitoring the growth of the industry.

Experts also report that this has likely been an issue for a long time, but only recently has started coming to the attention of divorce attorneys as cryptocurrency picks up more traction in the mainstream circles.

Looking for red flags

Digital assets are often hard to spot and track, so it is important to pay attention to a spouse’s behavior. For example, have they made recent changes in their spending habits? Do they seem to drop money that they should not have?

Pay attention to their behavior toward finances in general, too. A spouse with something to hide will often behave in a more furtive way, even refusing to show you simple things like receipts for purchases.

If you have strong suspicion of asset-hiding along with potential evidence that may point to it, then it is possible to file a subpoena in order to seize a spouse’s computer or other electronic devices. However, having legal help through this process will make it easier for you to deal with on a whole.