Preserving Families

And Protecting Assets

mother and two kids walking at sunset

Is your ex using cryptocurrency to hide assets?

Nobody really likes to talk about marital problems or divorce. However, if you’re one of many spouses in Texas who have recently filed for divorce, it’s important to map out a plan for your future, including how to resolve certain problem issues that may arise during property division proceedings. Especially if you suspect that your ex will try to beat the system by hiding assets, you may want to enlist outside support to help you uncover the scheme and protect your finances.

Nowadays, many spouses — who want to give an ex the short end of the stick during property division proceedings — use cryptocurrency to hide money. Has your former spouse recently made a large-ticket purchase, such as a vehicle, a boat or artwork that is worth a lot of money? If you suspect that he or she is trying to stash cash or keep you from getting what you’re entitled to in a divorce, there are steps you can take to bring the scheme to a halt.

Forensics experts are familiar with numerous types of cryptocurrencies

One of the first steps you can take to uncover a hidden asset scheme that involves cryptocurrencies is to discuss your case with a forensics investigator. Such an investigator can thoroughly review electronically stored information to pick up on clues regarding a possible cryptocurrency hidden asset scheme.

Cryptocurrencies have become more difficult to track over the years. Whereas bitcoin and other programs are easier to investigate, more modern cryptocurrencies enable greater anonymity. However, a subpoena may be issued for U.S.-based exchanges, if necessary.

Why is money missing from your jointly owned bank account?

If funds have been withdrawn from your jointly owned bank account without your knowledge ahead of time, it may be a red flag that your ex is trying to hide assets. Many Texas spouses in the past have investigated such issues, only to discover that their former partners were having an affair during marriage or were stashing money in an offshore account or using cryptocurrencies to hide assets.

You have a right to expect fair property division proceedings in a divorce. However, in order to issue a fair ruling, the judge overseeing your case must have all pertinent information, which can be difficult to obtain if your ex is being dishonest about assets. Hiding assets in a divorce is a form of perjury, which is punishable by law. If you suspect your ex is doing this, you can immediately bring the matter to the court’s attention.

Archives