Cryptocurrency Playing a Bigger Role in Divorce Cases
When you split from your Wisconsin husband or wife, you want to make sure you are doing your due diligence and considering every divisible asset to make sure you receive your fair share in your divorce. While you need to consider things like your home, your vehicle and any other valuables you might have, you may also need to consider digital assets and figure out how to handle them accordingly.
According to CNBC, digital assets are becoming more and more of a contentious issue in modern divorces. Current estimates suggest that about 20 million Americans own some form of cryptocurrency. As a result, this type of asset is playing an increasingly significant role in divorce proceedings. However, you may face the following challenges when it comes to handling cryptocurrency.
Some divorcing parties are using digital currency to hide assets from their former partners. If you believe your ex has digital currency but he or she is not forthcoming about it, consider hiring a forensic accountant or a similar type of financial professional to help.
The value of cryptocurrency is volatile, meaning it may change quite a bit over time. If your spouse has digital assets, you may need to divide their value using percentages as opposed to actual dollar amounts, since the value of those assets may fluctuate from one day to the next.
Finding and evaluating any digital assets your former partner has may take some time and effort. However, neglecting to take digital assets into account may result in a significant financial loss during your divorce.