Tag Archive for: Chicago crypto attorney

The Illinois Divorce Process and Cryptocurrencies

Cryptocurrencies are a new form of currency, rapidly gaining popularity and media attention across the globe. It’s estimated more than 20 million Americans may own cryptocurrency, and how to split holdings has become a growing concern in divorce settlements. 

The problem for divorcing couples is that the division and valuation of cryptocurrencies can be just as difficult as dividing up the equity in a home.

Throughout our cryptocurrency series we have answered many questions regarding different types of crypto and where you can find hidden assets. In a world where cryptocurrency is increasingly accepted as legitimate, it’s only natural that Masters Law Group’s experienced attorneys would know how to handle it. Here’s a quick look at how the state handles the issue at hand.

Disclosing Bitcoins And Cryptocurrencies in an Illinois Divorce

It’s important to understand how the state of Illinois divides and separates cryptocurrency assets. Illinois has taken steps to protect individuals who have invested in cryptocurrencies by allowing them to be counted as part of their overall net worth during divorce proceedings.

However, there are some stipulations involved in this process. Any money received from selling cryptocurrency is considered to be liquidated property and thus should not be counted as part of the overall net worth of an individual during a divorce settlement.

This process may trigger a couple of questions. How would you verify Bitcoin holdings? Would you print a screen grab from an online platform where you hold Bitcoin or other cryptocurrencies? Would you entrust your ex-spouse or their attorneys with the password to your accounts? Coin exchange companies such as Coinbase will issue a 1099-K each year if there have been $20,000 or more in exchanges of cryptocurrency.

Typically, the opposing party’s attorney will go through the process of cleaning up the financial affidavit and ask you for these documents to verify the claimed assets. The opposing party’s attorney will issue a “Notice To Produce” asking for copies of statements for your 401k, bank accounts, etc. If you have access to those documents, you must provide them a copy of those documents if they request it. Failure to do so can result in a finding of contempt of court.

The Illinois Department of Revenue requires 1099-K forms to be submitted electronically to Illinois when four or more separate transactions exceed $1,000 or if you are required by the IRS* to electronically file Forms 1099-K.

Essentially any 4 crypto-currency purchases, sales or trades will trigger a 1099-K in Illinois and the cryptocurrency holder will have those 1099-K as part of their standard tax packet. If your spouse will not fully disclose their cryptocurrency holdings, you may have to turn to an expensive third party to discover any additional holdings.

How Do You Divide Crypto in Illinois?

After determining the actual existence and quantity of your spouse’s cryptocurrency, the next step in the analysis is to figure out what portion of the cryptocurrency is marital. In Illinois, all property held by either party is presumed marital property unless it falls under an exception such as being acquired before the marriage, being a gift or an inheritance.

Typically, if both parties agree to the settlement they might have to include a formula for the volatility of the crypto. Once the judge approves of the formula, the price of that cryptocurrency in the martial estate becomes more foreseeable. 

Dividing crypto in Illinois is similar to the division of any other assets. Illinois is not a community property state, which means the court will split assets purchased, converted or appraised throughout the marriage in an equitable manner. It’s important to note that when it’s split equitably, it doesn’t always mean equal. Here are a couple factors that determine equitable distribution:

  • Age, health, financial circumstance of a spouse
  • Financial contributions to marital estate
  • Court-ordered obligations related to previous marriages
  • Child custody considerations
  • Prenuptial and postnuptial agreements
  • Tax Concerns
  • Marriage Duration
  • Alimony provisions

If you are ever unsure about the ownership of your property, you should consult legal counsel immediately in order to avoid any uncertainness. Lastly, if both parties agree to the settlement they might have to include a formula for the volatility of the crypto. Once the judge approves of the formula, the price of that cryptocurrency in the martial estate becomes more foreseeable.

The volatility of the price of these assets makes it very difficult to adequately value at the time of the divorce. Discovery and final negotiation of a divorce can sometimes take months and in that time a cryptocurrency could double or halve in value. A cash out of the cryptocurrency before the finality of the divorce is probably advised to finalize the marital value.

How Masters Law Group Can Help

When it comes to modern-day divorce cases, Masters Law Group has you covered on all things crypto. If you’re facing a divorce and suspect that your spouse is hiding crypto (and don’t know what signs to look out for), you can find that information in our recent blog here. If you have questions about the different types of popularized crypto, you can find that information right here.

Masters Law Group is here to help you through this stressful time. It’s important to consult your attorney as soon as you find any hidden cryptocurrency and discuss everything you know about the assets such as the type of crypto, the date of purchase and its appreciation. Gather any documents and records you may need in order to get your affairs in order. 

Our team of attorneys are highly experienced in dealing with Cryptocurrencies in divorce and are here to answer your questions about divorce and digital asset division.

Contact us today for more information, or to schedule a consultation.

The Dogecoin Divorce

Industry groups estimate more than 20 million Americans may own cryptocurrency, including Dogecoin. Now many are left wondering how to split holdings in divorce settlements. 

Divorce is one of the most stressful events that a human can endure. It can be physically, emotionally, and financially draining. Especially when you’re dealing with the division of your assets. Now that some of those assets have gone digital for an increasing number of people, an already complicated process stands to get more difficult.

Cryptocurrency is a digital form of payment that can be used to purchase goods or services online. Every transaction is done online and tracked via a highly secure ledger called a blockchain. You might have heard of Dogecoin, a crypto that has made big news lately for its wildly fluctuating value. There are more than 10,000 unique publicly-traded cryptos, with more being added every day.

In the sixth part of our Cryptocurrencies and Divorce series, we discussed the situations in which cryptocurrency can be found during the divorce settlement process and also if it can be lost within the settlement. While tracking down the funds isn’t an easy process, our third part of the series will give you a little more insight on the Cryptocurrency Dogecoin Assets.

With all of these forces at play during a divorce, it’s best to be prepared for whatever the outcome may be and hiring a family law attorney well-versed in cryptocurrencies is always an advantage. Here’s what you need to know about Dogecoin and Divorce.

What is Dogecoin?

Dogecoin originated as an alternative to traditional cryptocurrency such as bitcoin. Both the name and logo were based off of a meme that went viral. Dogecoin is intentionally abundant which is different in comparison to bitcoin which is scarce. In 2021, Dogecoin became one of the biggest cryptocurrencies in the market. 

Since Dogecoin was created to be abundant, miners were able to produce more by the minute. DOGE was based on supply and demand, and that surged enomurlsey which inturn has given it a higher value- due to reddit threads popularizing this cryptocurrency. 

Fast-rising DOGE prices in 2021 attracted media attention due to social media memes, which created a cycle that attracted more investors and further increased prices. Whenever an asset sees such dramatic gains, people tend to have a fear of missing out, which brings waves of new traders into the fold. 

It’s important to note that DOGE remains a highly volatile cryptocurrency. Like any investment there is no guarantee that it will go up or down in the future.

Challenges of Crypto & Divorce

The rising popularity of cryptocurrency for investors means that it is becoming a factor in divorce settlements. Many spouses are attempting to hide their money inside crypto to keep it from being divided between themselves and their future ex-partners.  

​​The costs associated with uncovering hidden cryptocurrency assets can also be substantial. Before moving forward with a court order to uncover potential hidden crypto assets, a spouse and their divorce lawyers may want to make sure that they are relatively certain about the outcome. 

One of the biggest obstacles for divorcees is simply a lack of understanding about what crypto is and how it factors into the traditional financial portfolios of divorcing spouses. The amount of money involved is also a consideration. People with a few hundred or even a few thousand dollars in undisclosed cryptocurrency are rarely the proper target of such an investigation. An experienced family law attorney may help a spouse concerned about crypto assets decide whether or how to pursue a court order and full forensic investigation. 

Final Thoughts

Living in a digital age like we do today, where things become meme-able by the second due to social media, it’s important to stay in the know. That’s why Dogecoin, Bitcoin, and other cryptocurrencies are increasingly expected to pop up in a divorce settlements today and in the future.

Because splitting digital currency may be more complex than traditional investments, such as stocks, bonds, or mutual funds, it is important to be prepared and make sure that crypto is properly discovered and valued in family law matters. If you know or suspect that cryptocurrency will be a part of your divorce, talk to your family law attorney immediately and put together a game plan for dealing with it. 

Our team of award-winning attorneys are highly experienced in dealing with Cryptocurrencies in divorce, and are here to answer your questions about divorce and digital asset division.

Contact us today for more information, or to schedule a consultation.

How is Cryptocurrency Split in Illinois?

With Cryptocurrencies exploding since 2009, they’re now beginning to show up in divorce courts across the U.S. Painstakingly difficult to trace and value, it’s best to find a divorce attorney well-versed in cryptocurrencies and who understands how to find, value and split cryptos in your divorce case. 

In our current Cryptocurrencies and Divorce series, we discussed situations where cryptocurrency can be found during a divorce settlement as well as the various types of cryptocurrencies and where they can lie if they are being hidden.

If you and your spouse are in the process of a divorce or considering divorce, you may want to tune in. It’s important to have an attorney who understands how volatile crypto is and how to equally divide assets. In order to protect your financial future, it’s absolutely essential to understand how the state of Illinois splits and divides crypto during a divorce settlement.

Here’s a look at how the state of Illinois splits cryptocurrency assets amid divorce.

Cryptocurrencies and Wallets

Crypto first appeared on the scene in 2009, and slowly rose to fame with the public over the course of several years. Since then, divorce courts have seen a large amount of settlement cases dealing with the division of cryptocurrency assets. While there are many different types of crypto on the market, it’s important to recognize some of the most frequently used cryptocurrencies. Some of the most popular include:

You can purchase crypto on exchange networks like Biance, Coinbase or Kraken – some of the most frequently used networks that invest in digital currencies. With low fees, scope for growth, and seamless transactions, it makes it all the more appealing to want to take part in the growing crypto market evolution. 

Splitting Crypto in Illinois

There’s a couple different situations where a judge will look at determining the division of assets in a divorce settlement. For example, how do you assess the value of the crypto you have? It’s important to note that crypto is volatile and prices always fluctuate drastically, sometimes within minutes throughout the course of one day. The price swings can significantly affect the settlement of marital property.

Typically, if both parties agree to the settlement they might have to include a formula for the volatility of the crypto. Once the judge approves of the formula, the price of that cryptocurrency in the martial estate becomes more foreseeable.

Dividing crypto in Illinois is similar to the division of any other assets. Illinois is not a community property state, which means the court will split assets purchased, converted or appraised throughout the marriage in an equitable manner. It’s important to note that when it’s split equitably, it doesn’t always mean equal. Here are a couple factors that determine equitable distribution:

  • Age, health, financial circumstance of a spouse
  • Financial contributions to marital estate
  • Court-ordered obligations related to previous marriages
  • Child custody considerations
  • Prenuptial and postnuptial agreements
  • Tax Concerns
  • Marriage Duration
  • Alimony provisions

If you are ever unsure about the ownership of your property, you should consult legal counsel immediately in order to avoid any uncertainness.

How Masters Law Group Can Help

At Masters Law group we have all cryptocurrency topics covered. If you’re having doubts and suspect that your spouse is hiding crypto and don’t know what signs to look out for, you can find that information here. If you have questions about the different types of crypto and are trying to get acquainted with the market, you can find that information here.

Masters Law Group is here to help you through this stressful time. It’s important to consult your attorney as soon as you find any hidden cryptocurrency and discuss everything you know about the assets such as the type of crypto, the date of purchase and its appreciation. Gather any documents and records you may need in order to get your affairs in order. 

Our team of attorneys are highly experienced in dealing with Cryptocurrencies in divorce and are here to answer your questions about divorce and digital asset division.

Contact us today for more information, or to schedule a consultation.

 

Top 6 Signs Your Spouse is Hiding Crypto

Is my spouse hiding Crypto? We know hiding assets is a penalty-inducing divorce tactic used by many. But in 2022, soon-to-be divorcees are hiding money from family members and authorities using cryptocurrency.

Cryptocurrency nowadays can add new complications to a divorce. Just like any other marital asset, if cryptocurrency, or other digital currency was purchased, or increased in value, during the marriage, it is a marital asset that is subject to distribution in both equitable distribution and community property states.

In the fourth part of our Crypto Currencies and Divorce series, we discussed the situations in which we discussed the situations in which cryptocurrency can be found during the divorce settlement process and also if it can be lost within the settlement. While tracking down the funds isn’t an easy process, this article will give you signs to watch out for.

Here’s what you need to know if your spouse is hiding crypto.Hiding Crypto

1. Bank and Credit Statements

First things first, if you believe that your spouse is hiding cryptocurrency and has used marital money to purchase it, you should take an active role in looking for proof of your suspicions.

Cryptocurrency is usually purchased with liquid cash, so at some point money moves from a bank account into a cryptocurrency exchange. Certain websites function as the entry point for most people interested in obtaining or trading Bitcoin and other digital currencies. Look for popular echange names such as: Coinbase, Binance, Etoro, Coin Switch, Luno and PaxForex. All it can take is one initial transaction in “normal dollars and cents” to enter this new world of Bitcoin, where untold more digital currency can be obtained. 

If you see any crypto activity, however insignificant, it’s worthy to investigate further — especially if your spouse omitted it from the initial deivorce documentation.

2. Crypto Wallets and Private Keys

Crypto keys make for excellent evidence. Each crypto wallet comes with a key that can then be traced to show all transactions associated with the wallet. A sure sign of Crypto activity in the household is the discovery of a crypto key. But not many know what to look for, since the key doesn’t represent a traditional metal object. So what do these keys look like?

A private key is a secret, alphanumeric password/number used to spend/send your bitcoins to another Bitcoin address. It is a 256-bit long number that is picked randomly as soon as you make a wallet.

The degree of randomness and uniqueness is well defined by cryptographic functions for security purposes.

This is how the Bitcoin private key looks:

2zJ4kLf5zgWrnogidDA76MzPL6TsZZY36hpXXssSzNydYXYB9fe

Many of these password keys are stored on a keydrive. If you happen to find this key, take note of it for evidence. Many hide these keydrives in a private and secure place, such as a safe, while others can simply save these password key codes hidden on their laptops.

3. Presence Crypto Exchanges in Apps

See if there are any crypto-related apps installed on shared electronic devices. Look for Bitcoin wallets like Coinbase, Mycelium, Ledger, SoFi, and Trezor, or apps for buying and selling crypto, like CEX.IO or BlockFi.

Any of the common exchanges listed above offer apps for mobile crypto banking. If you share one phone account, you may be able to access the history of all apps downloaded to any phone on your plan. If you are not able to obtain this information on your own, your attorney can add to this to items to be produced during discovery.

4. Loan Applications & Tax Returns

Another area to explore are loan applications and tax returns. If a person is trying to hide assets from you, and they are not disclosing Bitcoin or other cryptocurrencies on their net worth statement, they might record it on a loan application. 

It’s also important to check if your spouse has reported crypto on tax returns. Reporting of digital currency is required by the IRS, even though there are those who fail to do so. In 2014, the IRS declared that virtual currencies are property.

5. Large Online Purchases

For spouses who are hiding currency, they don’t buy the initial crypto to put in their wallet, which in turn, avoids any direct charges made to a bank or credit account. Instead, they connect with a crypto user in one of the many user forums who is willing to accept goods that will be paid in said cryptocurrency. 

The agreement might entail buying items of the crypto owner’s choice on Amazon, and in return, this crypto will be deposited in the owner’s empty wallet, giving them their entrance into this world. It’s important to remember that crypto wallets function completely outside the normal banking system, so no one will be the wiser should this transaction take place — unless you get smart about your spouse’s buying habits. 

Scan Amazon and other online sellers. If you don’t have access to your spouse’s Amazon account, this can be something that your attorney requests to see during divorce discovery.

6. Secretive Behavior with Finances

If you still receive paper statements this is a great way to track down their use of bitcoin and other cryptocurrencies. If the paper trail used to show up in the mail and then suddenly stopped – that’s a red flag and should raise some suspicion. 

It’s important to have passwords to all of your shared online bank and credit accounts, but if they’ve been changed, that’s again, another red flag. Call your bank and credit card company to request copies be sent directly to you for all joint accounts. Let your attorney know as soon as possible so that steps can be taken to make your spouse produce documentation of all joint accounts.

Final Thoughts

If you know or suspect that cryptocurrency will be a part of your divorce, talk to your family law attorney immediately and put together a game plan for dealing with it. 

At Masters Law Group, our team of attorneys are highly experienced in dealing with Cryptocurrencies in divorce and are here to answer your questions about divorce and digital asset division.

Contact us here today for more information, or to schedule a consultation 

Divorce and Cryptocurrencies Part 3: Ethereum Assets.

There’s no doubt that cryptocurrency nowadays can add new complications to divorce. Popular crypto assets like Bitcoin and Ethereum rise (and fall) dramatically in price making them often highly volatile. If you have an impending divorce on your hands, you need to know how to find, value and divide these new world assets. Here’s what you should know. 

In the second part of our Cryptocurrencies and Divorce series, we discussed the situations in which cryptocurrency can be found during the divorce settlement process and also if it can be lost within the settlement. While tracking down the funds isn’t an easy process, our third part of the series will give you a little more insight on the Cryptocurrency Ethereum Assets.

If you or your spouse owns cryptocurrency, you are going to want to make sure it is discussed with your divorce attorney. It may be a marital asset that needs to be valued and divided; but due to cryptocurrency wildly fluctuating, it can sometimes be problematic to value, and therefore split, fairly.

Here’s what you need to know about handling Ethereum Assets amid divorce.

What is Ethereum?

Ethereum, also known as ETH, is a decentralized, open-source blockchain with smart contract functionality. Currently, Ethereum is the largest and most well-established, open-ended decentralized software platform. 

Ethereum comes with its own programming language that runs on a blockchain, enabling developers to build and run distributed applications. The potential applications of Ethereum are wide-ranging and are powered by its native cryptographic token, (ETH).

Ether is used mainly for two purposes: It is traded as a digital currency on exchanges in the same way as other cryptocurrencies, and it is used on the Ethereum network to run applications. According to Ethereum, “people all over the world use ETH to make payments, as a store of value, or as collateral.”

Bitcoin Vs. Ethereum

Ether and Bitcoin are similar and also differ in many ways: Each is a digital currency traded via online exchanges and stored in various types of cryptocurrency wallets. Both of these tokens are not issued or regulated by a central bank or other authority. Both make use of the distributed ledger technology known as blockchain.

Transactions on the Ethereum network may contain executable code, while data affixed to Bitcoin network transactions are generally only for keeping notes. BTC and ETH are both digital currencies, but the primary purpose of ether is not to establish itself as an alternative monetary system but rather to facilitate and monetize the operation of the Ethereum smart contract and dApp platform.

The ultimate main difference between the two is that Bitcoin is primarily designed to be an alternative to traditional currencies and a way to exchange and store value. Ethereum is a programmable blockchain that finds application in numerous areas, including DeFi, smart contracts, and NFTs.

Ethereum is another use case for a blockchain that supports the Bitcoin network and theoretically does not compete with Bitcoin. However, the popularity of ether has pushed it into competition with all other cryptocurrencies, especially from the perspective of traders. For most of its history since the mid-2015 launch, ether has been close behind Bitcoin on rankings of the top cryptocurrencies by market cap.

Finding & Splitting Ethereum Assets

While Bitcoin and Ethereum are not the same thing, it’s important to know that Ethereum can be just as easily divided as Bitcoin. When Bitcoin is considered marital property, the easiest way to divide them is to split the determined value 50/50. Since most Bitcoin can be cashed out in full, splitting the value 50/50 means each spouse would simply get half.

Another way to divide cryptos is by negotiating other marital property in exchange. If the spouse with the cryptocurrencies wants to keep them, they can give up other marital property with the same determined value to the other spouse.

The costs associated with uncovering hidden cryptocurrency assets can also be substantial. Before moving forward with a court order to uncover potential hidden crypto assets, a spouse and their divorce lawyers may want to make sure that they are relatively certain about the outcome. 

The amount of money involved is also a consideration. People with a few hundred or even a few thousand dollars in undisclosed cryptocurrency are rarely the proper target of such an investigation. An experienced family law attorney may help a spouse concerned about crypto assets decide whether or how to pursue a court order and full forensic investigation. 

Final Thoughts

Living in a digital age like we do today, Bitcoin, Ethereum, and other cryptocurrencies are expected to pop up in a divorce settlement. It is important to be prepared and make sure that crypto is properly discovered and valued in family law matters. If you know or suspect that cryptocurrency will be a part of your divorce, talk to your family law attorney immediately and put together a game plan for dealing with it. 

Our team of attorneys are highly experienced in dealing with Cryptocurrencies in divorce and are here to answer your questions about divorce and digital asset division.

Contact us today for more information, or to schedule a consultation.

Can You Lose Bitcoin in a Divorce?

While some cryptocurrencies are easily found during the discovery phase of divorce proceedings, others, such as bitcoin, can be more challenging to find, particularly when they are private. If you have an impending divorce on your hands, you need to know how to find, value and divide them. Here’s what you should know. 

In the first of our Cryptocurrencies and Divorce series, we discussed how the rise and popularity of cryptocurrency has led to some spouses hiding digital assets during divorce settlements, and tracking down the funds isn’t an easy process.

If you or your spouse own cryptocurrency, you are going to want to make sure it is discussed with your divorce attorney. It may be a marital asset that needs to be valued and divided; but due to cryptocurrency wildly fluctuating, it can sometimes be problematic to value, and therefore split fairly.

Here’s what you need to know about handling bitcoin and other cryptos in divorce.

A Quick Recap of Cryptocurrency 

The use of cryptocurrency varies user to user. Some people prefer to use cryptocurrency for online purchases to ensure secure financial transactions. Others might use it simply to capitalize on discounts or rewards offered for the use of digital currencies.

The most popular form of cryptocurrency is Bitcoin. Some examples of other digital currencies are Litecoin, Ethereum, Ripple, Zcash, Bitcoin Cash, and Cardano. Digital currency is bought, sold, and traded on various platforms. Coinbase is a popular platform used for Bitcoin. Some other digital currency exchange platforms are Kraken, BitStamp, ShapeShift, Gemini, and Bisq.

Cryptocurrencies are validated by a blockchain. This refers to a list of records called blocks that are linked together like a chain. Blockchains are designed to be secure. The foundation of a blockchain is a “decentralized database.” Blockchains can include a piece of information called a hash.

It is very important to know if any parties in a family law matter have cryptocurrency. Cryptocurrency can be a marital asset eligible for division in a divorce. If you know cryptocurrency exists, it will need to be valued. Cryptocurrency has an exchange rate just like standard currency and it can be converted into U.S. dollars. There are programs on the internet that can assist with the conversion of cryptocurrency to dollars. It may be helpful to know which conversion rate program that cryptocurrency owner utilizes.

Looking for Cryptocurrency

Figuring out whether or not cryptocurrency exists is important. Have you discussed cryptocurrency with your spouse? Have you overheard them boating to their friends about their crypto wallet? Will bank account statements or credit card statements show deposits or withdrawals from a digital currency platform? Are there emails or other correspondence that contain information about cryptocurrency?

If any of these are true in your marriage or divorce, you should notify your attorney immediately. Your attorney will need to start collecting information about the cryptocurrency. Obtaining documentation about cryptocurrency can be tricky because often the point of cryptocurrency is for transactions to remain private or secure.

First, it needs to be determined if the cryptocurrency owner has a wallet and whether that wallet is online or is a physical device. The wallet will have an ID and a password for logging which can be requested in discovery. Wallets can be similar to a portable hard drive and be an actual physical item. In other instances, the wallet may just be online and through one of the cryptocurrency exchange platforms. Different steps need to be taken to preserve information from both kinds of wallets.

An owner can usually download a transaction history from his/her wallet or exchange platform. The transaction history is often downloaded as an Excel spreadsheet or other electronic document. The download contains information like a bank statement such as date, time, amount of cryptocurrency, conversion rate, balance, transaction ID, and hash information.

Most transactions will show some sort of confirmation of purchase. Often the confirmation occurs via email and serves as a receipt. The confirmation may include the conversion rate, dollar amount, and a date and timestamp. In some instances, the confirmation may identify where the cryptocurrency user deposited the funds after sale or where they withdrew the funds from to make a purchase. This can help you in the long run to identify other assets.

Can You Lose Bitcoin in a Divorce?

Bitcoin is treated the same as any other asset in a divorce. If the bitcoin transaction was before the marriage, was given as a gift or through an inheritance, it is not marital property and usually cannot be divided. Therefore, if the transaction was during the marriage, it is marital property and can be divided.

When bitcoin is considered marital property, the easiest way to divide them is to split the determined value 50/50. Since most bitcoin can be cashed out in full, splitting the value 50/50 means each spouse would simply get half.

Another way to divide bitcoin is by negotiating other marital property in exchange. If the spouse with the bitcoin wants to keep them, they can give up other marital property with the same determined value to the other spouse.

Final Thoughts

These days, bitcoin and other cryptocurrencies are all the rage. As such, the issue of bitcoin is bound to pop up in divorce cases.

It is important to make sure that bitcoin is properly discovered and valued in family law matters. If you know or suspect that cryptocurrency will be a part of your divorce, talk to your family law attorney immediately and put together a game plan for dealing with it. This may include a plan for how to explain how cryptocurrency works with other parties or professionals in your case.

If you are concerned about how your or your spouse’s cryptocurrency assets could affect your divorce or the asset division process, Masters Law Group can help. Our team of highly trained and experienced attorneys are here to answer your questions about divorce and digital asset division.

Contact us today for more information, or to schedule a consultation.