Is your spouse hiding assets digitally?

On Behalf of | Feb 26, 2022 | property division | 0 comments

The influx of digital frontier expansion has created waves in almost every single aspect of life for citizens in the country. This goes for everything from how people work to how they socialize.

It even goes for how people attempt to hide assets when going through a divorce. Unfortunately, even if you think your spouse is cooperating, they might actually be using the digital landscape to hide assets right under your nose.

The rise of cryptocurrency for hidden assets

CNBC discusses the use of cryptocurrency in divorce. Until recent years, cryptocurrency remained a relatively niche thing that did not penetrate into the conscious thought of the mainstream. However, recent pushes to grab more attention and normalize digital tokens have rocketed cryptocurrency and other forms of digital assets into the minds of consumers everywhere.

While some people use digital currency for legitimate reasons, others use its lack of strict security and control as a way to get away with things they would not otherwise be able to.

Looking for red flags

When it comes to divorce, this can include someone trying to get away with hiding assets. After all, digital assets and cryptocurrency are currently quite difficult to track, though this changes every day as it grows more popular and the IRS takes more of an interest in it.

Because of that, it makes for an attractive hiding ground for a spouse trying to take more than their fair share.

If you suspect your spouse might attempt to hide assets, look for potential red flags like changed spending behaviors or secretiveness about financial documents. From there, contact legal help so you can get a search affidavit and uncover if your suspicions are true.

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