Cryptocurrency is gaining popularity worldwide. Although it has no physical form like a dollar bill or nickel, and it’s not controlled by any government agency, this form of currency has value to be divided in a divorce.
In fact, cryptocurrency can be – and is – considered when dividing up assets and property in a divorce. There are three typical routes to settle cryptocurrency distribution in a divorce:
- One party can receive the entirety of this type of assets while the other obtains an asset of the same value,
- The cryptocurrency can be sold, and proceeds divided evenly, or
- One party can maintain the possession of the cryptocurrency and agree to split the proceeds of any future sales.
Although the process seems simple, factors like market value, trends, and other nuances of cryptocurrency law can all affect your negotiations. What you and your spouse settle on will depend on your case, future needs, children, and any other factors that make your situation unique.
Locating hidden cryptocurrencies and properly valuing them requires experience. Richard West has lectured across the United States on these issues and has the required experience.
Contact an Orlando Divorce Lawyer with Cryptocurrency Experience
If you or your spouse own cryptocurrencies like Bitcoin, Litecoin, Zcash, Ethereum, Ripple, Dash, NEO, Cardano, or any other form, you need to contact a divorce lawyer who has experience with cryptocurrencies. Without legal counsel, you could risk sacrificing valuable assets, or your spouse could even try to hide your current assets by converting them into cryptocurrency.
West Family Law Group has a record of success in fairly dividing up cryptocurrencies in divorce and takes all factors into consideration to reach the best resolution for everyone. Our qualified attorneys are aware of all the financial possibilities and can ensure fair distribution of your cryptocurrencies during your divorce.