Cryptocurrency is a type of digital money that is becoming more common in high-asset divorces. When couples with significant wealth decide to split up, dealing with cryptocurrency can add a layer of complexity to the process.
Those who own these assets should understand how cryptocurrency fits into high-asset divorces.
Reviewing assets
The first step in handling cryptocurrency during a high-asset divorce is to find out and share all the digital coins you both own. This might involve getting help to track down these online assets accurately. It is important to be honest about all your cryptocurrency holdings to ensure a fair outcome when dividing your assets.
Valuing cryptocurrency can be tricky because its value can go up and down quickly. To make sure you are dividing your assets fairly, it is necessary to figure out the value of cryptocurrency accurately.
Dividing assets
When it comes to splitting cryptocurrency during a high-asset divorce, there are different ways to do it. You could sell the cryptocurrency and share the money, transfer ownership of specific assets to one person or come up with a plan to divide the value of the cryptocurrency over time. The Florida Legislature provides information on factors that courts go over when dividing marital property. These include the length of the marriage, each spouse’s contributions and the financial circumstances of both parties.
Dealing with cryptocurrency in high-asset divorces means working through the challenges of finding, valuing and dividing these digital assets. This can help you navigate the complexities of cryptocurrency and ensure a transparent and equitable outcome for both parties involved.