hiding cryptocurrency

Is Your Spouse Hiding Cryptocurrency Assets?

Angela was worried about the way her divorce was proceeding. Her husband’s financial disclosures seemed incomplete. She was reasonably sure that Dwight was hiding cryptocurrency assets from her but had no idea how to confirm her suspicions. Angela and her divorce lawyer may have a difficult job ahead of them.

How Important Are Financial Disclosures in a Divorce?

Very. In fact, they are so important that the California Family Code requires that both parties provide a “full and accurate disclosure of all assets or liabilities in which one or both parties have or may have an interest.” The parties will use each other’s financial disclosures when working out property division, child support, and spousal support.

The spouse filing for divorce serves preliminary disclosures on the other party with the petition or within 60 days. Respondents serve their disclosures at the time they file a response or within 30 days after. Final disclosures are filed before the judge issues a final divorce order.

When one spouse hides assets from the other, the family law judge may adjust property division and spousal support awards accordingly. Also, the person hiding the property may be charged with fraud or perjury.

What Is Cryptocurrency and Why Is it So Hard to Find?

You have probably heard of Bitcoin, which is a type of cryptocurrency. Generally, though, cryptocurrency is any digital or virtual currency. This type of asset is secured by cryptography and issued using blockchain technology.

Most of the time, it’s nearly impossible for someone to access cryptocurrency without the appropriate passwords and codes. You will also have to know the location of the digital wallet, otherwise known as the account address.

What Can You Do If Your Spouse Is Hiding Cryptocurrency Assets?

If you don’t know the Bitcoins exist, you will not know that you need to look for them. If you know they exist, you still have to know where they are and have the correct information to access them. Even finding out how much your spouse’s currency is worth can be incredibly challenging.

To confirm that your spouse has cryptocurrency, start by considering how tech-savvy they are. Next, you and your divorce attorney may look for specific records regarding digital currency. It is also critical to know how many electronic devices your spouse has and where they are located.

At some point, you may even need to hire a forensic accountant to look for signs that your spouse is hiding cryptocurrency, as well as other assets.

Hiding Cryptocurrency Happens. We Can Help.

In fact, we can counsel you about filing for divorce, then stand with you every step of the way. Our attorneys are experienced with all divorce issues, including hidden assets and property division.

Please call us at (415) 293-8314 to schedule a confidential appointment with one of our attorneys. Ms. Burger is a California Certified Family Law Specialist and founder of the Law Offices of Judy L. Burger. We assist clients in California’s Northern to Central Coast, including San Francisco, Beverly Hills, Gold River, San Diego, Santa Barbara, Ventura/Oxnard, and surrounding communities.
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