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Cryptocurrency could be a pawn in your divorce

On Behalf of | Oct 14, 2021 | Divorce |

In a divorce, both parties want to secure a property division settlement that allows them to have stability and security long term. The process of dividing marital property can be complex, especially when one party does not want the other to have his or her fair share. In these situations, a Washington spouse may employ certain strategies in order to hide assets. It is becoming more common for spouses to do this by using cryptocurrency as a means to hide wealth.

If you suspect your spouse is attempting to prevent you from securing your fair share of marital property, he or she may do so through cryptocurrency. There are certain steps you can take that will allow you to locate and value all marital assets, ensuring you get your fair share. Your financial future could be on the line, and it’s in your interests to fight for your long-term well-being.

Hiding money with digital currency

Cryptocurrency is a type of digital asset, and approximately 20 million Americans own some form of this currency. It can be difficult to locate and track, making it an easy tool in situations where one may wish to hide money during divorce proceedings. If you suspect your spouse is hiding assets in digital currency, the following may be helpful:

  • A close look into the financial activity of the other spouse will reveal if there was an investment that could indicate suspicious activity.
  • If your spouse has a sudden change in lifestyle, such as buying a new car or making another expensive purchase, it could indicate hidden wealth.
  • It may be necessary for an attorney to seek a subpoena to access your spouse’s computer, devices and accounts in order to find hidden assets.

With the right steps, it may be possible to locate hidden assets in the form of cryptocurrency that your spouse may be attempting to hide from you.

Fighting for the future you deserve

The final terms of your divorce order will affect your financial life for years to come. Hidden assets can undermine your financial stability and your future plans, and your opportunities are worth fighting for. You have the right to take the necessary and appropriate steps to pursue a property division order that allows you to have security and peace of mind long after your divorce is final.