What to Do if You Suspect Your Spouse is Hiding Digital Assets

Hiding assets during a divorce has become much more complex than stuffing cash under the mattress or transferring funds to a private bank account. Historically, forensic investigators could easily subpoena documents like bank statements to discover these hidden funds.

But, digital currencies are becoming decentralized. Forensic experts are left scratching their heads, thinking of new ways to track these assets. Many of these digital assets are still in their infancy in terms of use by the general public. Early adopters and tech-savvy spouses might easily hide them from their less informed exes.

One in 5 Americans are trading, investing in, and using cryptocurrency. Chances are your spouse has acquired it at one point or another. Here, we’ll discuss the various types of digital assets and how to track them if you suspect your spouse is hiding digital currency.

How to Track Down Hidden Digital Assets

If your spouse claims they have few assets but benefit from a hefty salary, they could hide something from you. You could track down a spouse’s hidden digital assets in the following ways:

• Recruit a Crypto Hunter – Cases of spouses hiding digital assets have created a need for crypto hunters—forensic experts who track down a spouse’s stash of hidden digital currency. These experts can analyze blockchains, records that reveal your spouse’s digital transaction history. Bitcoin has a public ledger where anyone can view transaction history. However, there are other types of digital currencies called privacy coins, which are much harder to track.
• Gather Information During Discovery – During the divorce, your attorney engages in the discovery process and requests your ex to furnish several documents to evaluate your marital assets. These documents might include tax documents, bank statements, and more. You can explicitly request information regarding your spouse’s digital assets.
• Question Your Ex with Interrogatories – These are written questions your ex must answer under oath to determine if they’re hiding digital assets.
• Question Your Ex in Person with Depositions – This is an in-person recorded hearing where your ex will answer questions under oath.

Common Types of Digital Assets

With the new wave of digital assets, investors can purchase the following:

• Metaverse Properties – These are parcels of land in a digital environment that an individual can purchase and own. The implications for metaverse properties are still being explored, but real estate agents have used them to showcase properties for new buyers, and companies use them to host events and virtual trade shows.
• Cryptocurrency – This is digital currency individuals can purchase and make payments with online. This digital currency can be sold and converted into physical money, like a stock. Common cryptocurrencies include Bitcoin, Litecoin, and Ethereum.
• Nonfungible Tokens – NFTs are digital representations of assets purchased with digital currency, like bitcoin. For example, your spouse might have bought an NFT to represent their ownership of a business, art, music, or another asset. NFTs may include smaller assets like digital collectibles like trading cards or online videos.

Although these assets aren’t tangible, they generate real money and could significantly increase the value of a marital estate.

You’re Entitled to Digital Assets After a Divorce

Assets are not always distributed 50/50 in North Carolina. The courts consider several factors when distributing assets, such as income of both parties, the needs of the children, the liquidity of the marital property, and more.

Because of this, spouses may hide assets from one another in the form of digital currency to prevent them from being split up in a divorce, often leaving one spouse worse off financially. You could still be entitled to digital assets acquired during marriage even if you never purchased them.

Is Your Spouse Hiding Assets? Call Us Today

It’s unfair for your spouse to walk away from a marriage pocketing digital assets you never knew existed. You need money to support your children and maintain a stable living, and if your spouse was the primary breadwinner in your marriage, you could be left to scrape by financially.

The attorneys at Breeden Law Office recognize the widespread use of digital assets. We can recruit experts to track down these missing funds. Contact our office today at (919) 661-4970 to get started on your case today.